I was driving my truck with no prior issues nor check engine light warnings, suddenly my truck began to lose speed, warning light came on instrument panel stating something to the effect of reduced power, I heard a loud noise (similar to the sound of a tire blown), as I looked out of the drivers side window I observed flames coming from the left front fender well. I was able to pull out of traffic coasting off into the median. Once in the median My wife and myself had to evacuate the truck immediately for our own safety. the engine compartment was rapidly becoming fully involved with fire. Attempted to extinguish fire with three fire extinguishers, called 911 and waited on fire department to arrive. My truck is now a total lose, I have read that your department has received similar issues that I have described.I felt it necessary to report my issue to hopefully help resolve this issue with Ford trucks.