Ford Motor Co. CEO Jim Farley announced the automaker is investing $5 billion in order to create an electric vehicle that will sell for under $30,000.
The pickup truck will be built at Ford’s Louisville Assembly Plant in Kentucky for both the U.S. and export markets. Production will start in 2027, so the truck will likely arrive for the 2028 model year.
The automaker calls the “universal electric vehicle platform” a ”Model T moment.”
“Ford believes it has cracked the code to battle low-cost Chinese battery-electric vehicles, in the form of its new Universal Electric Vehicle Platform and with a planned disassembly of the assembly line to produce it,” according to WardsAuto.
Read the article.