An aerial view as a Ford signal stands on the gross sales lot of the Metro Ford dealership on May 06, 2025 in Miami, Florida.
Joe Raedle | Getty Images
Ford on Monday introduced it could make investments $2 billion and create 2,200 new jobs at a Louisville, Kentucky, assembly plant geared toward rolling out extra inexpensive electrical automobiles.
The investment comes on prime of $3 billion already deliberate for a battery park in Michigan. Together the services will create or safe practically 4,000 new jobs, Ford stated in a news release.
“We took a radical approach to a very hard challenge: Create affordable vehicles that delight customers in every way that matters – design, innovation, flexibility, space, driving pleasure, and cost of ownership – and do it with American workers,” Ford CEO Jim Farley stated within the launch.
The Detroit automaker’s new “Universal EV Program” centered round low-cost EVs will begin with a midsize, four-door electrical pickup, produced on the Louisville Assembly Plant. That car launch is slated for 2027.
Executives had teased the announcement on the corporate’s newest earnings name as its subsequent “Model T moment.” Ford stated the beginning value of the brand new EV truck, $30,000, will probably be roughly the identical because the famed Model T, when adjusted for inflation.
Ford famous that new lithium iron phosphate (LFP) batteries for the brand new household of EVs will probably be assembled within the U.S. and never imported from China.
Farley stated throughout an occasion in Louisville on Monday that the announcement comes because the automotive business sits is at a crossroads resulting from new know-how and new competitors.
“We knew that the Chinese would be the major player for us globally, companies like BYD, new startups from around the world, big technology has their ambition in the auto space. They’re all coming for us, legacy automotive companies,” Farley stated. “We needed a radical approach and a really tough challenge to create an affordable vehicle.”
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