Ford unveils new EV in 'next Model T moment'
This will be the first EV from any automaker powered mostly by US-sourced materials - a big deal given that critical minerals are typically imported, often from China. GM is also developing similar battery technologies . LFPs are also cheaper to build, improve fire safety, have a longer lifespan, and offer more environmentally-friendly mining practices.
Ford invoked the legacy of the Model T - the car that revolutionized American manufacturing with the assembly line - to underscore the importance of the new launch. 'It represents the most radical change on how we design and how we build vehicles at Ford since the Model T,' CEO Jim Farley said. The truck's battery uses lithium iron phosphate (LFP) chemistry, which avoids cobalt and nickel, and promises acceleration that beats the Mustang in a straight line.
Ford also claims the pickup will have more passenger space than the 2025 Toyota RAV4 and include its latest highway self-driving tech, Blue Cruise. While the company hasn't revealed a name for the truck, rumors are flying that Ford is bringing back the Ranchero nameplate for the new car. The company reportedly filed patent paperwork to reclaim the name, but declined Daily Mail's request for comment on the name.
The popular mini truck sold a half-million units from 1957 through the 1970s. Still, it's a major technological departure from Ford. The company, which has a three-vehicle lineup of EVs, just reported losing $1.3 billion on its all electric fleet.
But Ford needed to adjust its parts pipeline. In June, the automaker temporarily shuttered some of its US production plants as Chinese officials throttled critical mineral pipelines to the company. 'There are no guarantees with this project,' Farley added. 'It is a bet, there is risk.'
Investors, didn't initially seem convinced: Ford's stock dipped 0.5 percent after the announcement. 'The new techniques sound great and have potential for much higher output of a vehicle program due to faster assembly times,' David Whiston, an analyst who covers Ford at Morningstar, told the Daily Mail. 'Until we can see the product though, it's all words.'
Meanwhile, Ford is not alone. Other car companies are expecting to release lower priced EVs to the market next year that could cut into Ford's low-cost EV competitiveness. Slate, a company with the financial backing of Jeff Bezos, is developing a mid-$20,000 electric pickup at its Warsaw, Indiana plant.
Rivian, the outdoorsy startup with a $5 billion deal with Volkswagen, is about to launch its lower-cost R2 and R3 vehicles in 2026 . Ford's project helps President Donald Trump deliver on one of his biggest campaign promises: more manufacturing jobs in the United States. Ford said it is making a huge investment to complete the project. The automaker will spend around $2 billion to rework the factory and plans to hire 2,200 full-time workers.
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