Ford Plans Business Revolution With Low-Cost Electric Vehicles
Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content.
Billed as a "Model T moment" by the company, Ford Motor Company CEO Jim Farley today announced that the automaker will invest $5 billion into its electric vehicle future, creating 4,000 jobs.
The Ford Model T was produced from 1908 to 1927 and is noted as being the first mass-produced, affordable vehicle. Its low cost was greatly attributed to its assembly line construction, which produced the vehicles faster than their paint could dry. The mass assembly of the Model T drove down costs to Ford, the savings from which were passed on to the consumer.
Today's announcement comes as the company has faced criticism for the cost of its recalls and lack of public information regarding its electric vehicle strategy, as other automakers have been transparent about their plans, and competition is growing.
At an event staged inside the company's Louisville Assembly Plant in Kentucky, Farley took the stage to defend Ford's strategy to date and spell out details of the company's electron-rich future.
Ford Motor Company CEO Jim Farley speaks at the company's Louisville Assembly Plant in Kentucky.
Ford Motor Company CEO Jim Farley speaks at the company's Louisville Assembly Plant in Kentucky.
Newsweek
A new, midsize, four-door battery-electric pickup truck will be added to the company's lineup, which currently includes the small Maverick, midsize Ranger, full-size F-150 and heavy-duty Super Duty pickup trucks, in 2027.
The new electric truck will be built at the Louisville plant and Ford aims to have it start at under $30,000. The only other battery-electric truck announced around that price point is Slates's smaller first model, which is expected to have a starting price around $25,000. Slate's truck is scheduled to come to market ahead of the Ford. No electric trucks are currently sold for that amount.
The F-150 Lightning is the company's all-electric, full-size pickup. Lightning was the best-selling electric truck in America in the second quarter of 2025 and is the best-selling electric truck in the region through mid-year.
"The F-150 Lightning proudly holds its position as America's best-selling electric truck, a testament to its enduring customer appeal and contributing to the Ford F-Series 48 years as the best-selling truck in America. The F-150 Lightning embodies Ford's Built Ford Tough DNA while adding innovative benefits like home power backup, lower running costs, and a spacious front trunk. It's a compelling package and ideal choice for customers ready to embrace electric truck ownership, Rob Kaffl, Ford director, U.S. sales and dealer relations, told Newsweek.
Front three-quarters view of the Slate Truck.
Front three-quarters view of the Slate Truck.
Slate
Lightning isn't the only battery-electric vehicle Ford sells in the U.S. The electric Ford Mustang Mach-E crossover is one of the best-selling EVs on the road today, traditionally only overshadowed by Tesla products. Like other Ford products, it is offered to business and government customers as a fleet vehicle as well as in more traditional passenger configurations.
Ford plans to sell its new battery-electric truck in the U.S. and overseas. That stands in contrast to its sales of the Maverick, which is only available to customers in the United States, Canada, Mexico, Puerto Rico, the Virgin Islands and some countries in South America. It is built in Mexico.
Ford's Ranger is sold in 180 markets and is the best-selling pickup in 21 of them. Ranger is built in Michigan for domestic distribution and Argentina, South Africa, Vietnam and Thailand for global sales.
F-150 is available to customers in Australia, Canada, Mexico, Puerto Rico and the U.S. Virgin Islands, as well as several countries in Central and South America. Its Lightning counterpart is only sold in the U.S. and Canada.
A 2023 Ford F-150 Lightning being driven off road.
A 2023 Ford F-150 Lightning being driven off road.
Ford Motor Company
Super Duty is sold extensively throughout the world in numerous configurations.
The product announcement was joined by news that Ford's BlueOval Battery Park Michigan, located in Marshall, Michigan, will make LFP (lithium ferrophosphate) batteries that will power the new truck. General Motors is betting on LFP chemistry for its future as well, the company told Newsweek in July.
Lithium nickel manganese cobalt (NMC) batteries offer the longest range for battery-electric vehicles, but have a high cost. Lithium-manganese-rich (LMR) battery technology offers high range at a lower cost. LFP batteries are currently widely believed to be the best compromise of performance, cost and range for next-generation EVs across the automotive landscape. LFP batteries are also considered more sustainable than the other two chemistries.
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