Ford Plans New Electric Pickup for $30,000

• Ford is investing $2 billion in a new electric vehicle plant
• The first electric pickup will be unveiled in 2027
• It is expected to reduce costs and speed up production

Ford has announced an investment of nearly $2 billion for the modernization of its plant in Kentucky, which will allow it to produce new electric vehicles. Ford's CEO Jim Farley presented the new electric vehicle strategy at the plant, which has been producing internal combustion vehicles for 70 years.

The first electric vehicle to be produced using the new process at the modernized plant will be a mid-size electric pickup, which is expected to go on sale in 2027. It is planned that the new pickup will have a price tag of around $30,000. According to Farley, this will be the "Model T moment" for Ford's electric vehicle business.

Ford plans to utilize a universal platform for the production of its electric vehicles, which will help reduce manufacturing costs. The plant in Louisville will be retooled to expedite the assembly process and cut production costs. It is expected that the new platform will allow for the production of affordable electric vehicles at scale.

Farley emphasized that the electric pickups will be equipped with proprietary batteries manufactured at Ford's plant in Michigan. In the future, the company plans to create 2,200 jobs at the modernized plant in Kentucky. Additionally, Ford's overall investments in the region could create or secure nearly 4,000 new jobs.

Ford also acknowledged that competition with Chinese electric vehicle manufacturers is increasing, but the company aims to maintain a competitive edge by focusing on consumer preferences.

Tags: USA/Automotive