Latest news with #Model T moment
Daily Mail
2 days ago
- Automotive
- Daily Mail
Ford stuns with 'Model T moment' for its electric cars
Ford is unveiling a new EV that it is calling its 'next Model T moment' - which will be be made entirely in the US. The mid-size pickup truck is expected to hit dealerships in 2027 for around $30,000. Ford said the unnamed truck will be built on an all new, American-made battery platform in Louisville, Kentucky. It will be first time an EV, by any manufacturer, has been powered with mostly US-based materials. Normally, critical minerals are imported - often from China. 'There are no guarantees with this project,' CEO Jim Farley said. 'It is a bet, there is risk.' The truck, built with lithium-iron phosphate batteries, is a complete departure from previous US-assembled EVs. Ford said it made a huge investment to complete the project. The automaker spent $2 billion to rework the factory and plans to hire 2,200 full-time workers. Ford's share price fell on the news, with Wall Street worried about the vast cost of such a commitment. This is a breaking news story.
Auto Blog
02-08-2025
- Automotive
- Auto Blog
Ford CEO Says Its Newest EVs Are Ready for Its 'Model T Moment'
By signing up I agree to the Terms of Use and acknowledge that I have read the Privacy Policy . You may unsubscribe from email communication at anytime. The Macan will return with gas power, only it won't be the Macan at all. Ford's 'Model T moment' is coming August 11, CEO says During Ford's second-quarter earnings call with investors on the evening of July 30, Ford CEO Jim Farley revealed that the automaker is set to reveal its new strategy centered around a new line of electric vehicles underpinned by a new platform. In his remarks, Farley said that the future plans would be a 'Model T moment,' referring to the 120-year-old model that was the world's first mass-produced, affordable car. He hinted at a transformative breakthrough that would help position Ford to sell a new line of electric cars aimed at competing against low-cost Chinese models from known names like BYD. Previous Pause Next Unmute 0:00 / 0:09 Full screen 2024 Kia EV6 GT-Line review: Is this the EV that will convert you? Watch More 'On Aug. 11, that will be a big day for all of us at Ford. We will be in Kentucky to share more about our plans to design and build a breakthrough electric vehicle and a platform in the U.S.,' Farley said. 'This is a Model-T moment for us at Ford. A chance to bring a new family of vehicles to the world that offer incredible technology, efficiency, space, and features.' Source: Getty Images By providing your email address, you agree that it may be used pursuant to Arena Group's Privacy Policy. Ford views the Chinese auto giants as its new competitors In the past, the Ford CEO admitted his admiration for his Chinese competition. Late last year, he revealed on a podcast appearance that he daily drove a Xiaomi SU7 that Ford used for benchmarking, adding that he was having a hard time giving it up. On the earnings call with Wall Street insiders, he acknowledged that Ford is falling behind its East Asian rivals, pegging them as their new competition to beat. Farley noted to the investors and Wall Street insiders listening in that the next EVs developed by its internal California-based 'Skunkworks division' are set to be released within 'the next year or two — starting,' adding that its strategy against its Chinese counterparts 'is to go and really push ourselves to radically reengineer and transform our engineering, supply chain and manufacturing process.' 'We really see, not the global (automakers) as our competitive set for our next generation of EVs, we see the Chinese. Companies like Geely, BYD,' Farley said. 'That's how we built our vehicle. How we've engineered what kind of supply chain we've used and the kind of low content in our manufacturing.' Autoblog Newsletter Autoblog brings you car news; expert reviews and exciting pictures and video. Research and compare vehicles, too. Sign up or sign in with Google Facebook Microsoft Apple By signing up I agree to the Terms of Use and acknowledge that I have read the Privacy Policy . You may unsubscribe from email communication at anytime. Ford F-150 Lightning — Source: Getty Images Ford is banking on its supply chain, gas and electric car flexibility Despite this, Farley's announcement underscores that Ford has yet to make any money selling its electric vehicles. Its internal 'Model e' division, which is dedicated solely to EVs, has been hemorrhaging money for several quarters. During Q2 2025, Ford reported that the Model e division lost $1.3 billion, a worse quarter than the division's loss of $1.1 billion just a year earlier. Farley told the Wall Street analysts on July 30 that over the past three years, the automaker saw EV consumer demand and government regulations and support rapidly change, which pushed it to think carefully about its next moves. As part of its new EV strategy, Ford's CEO said it will offer EVs in select body styles in segments where it 'can actually make money on EVs.' Source: Getty Images Another part of that strategy is its investment in LFP, or lithium-iron-phosphate batteries —a cheaper, longer-lasting form of EV battery, particularly used in Chinese-market electric vehicles. Starting next year, it plans to build them at the BlueOval Battery Park in Marshall, Michigan, which he touts as 'a big advantage for the company.' But despite this, Ford feels that its investment in EVs is part of a larger lineup puzzle, which includes gas-powered cars like hybrids and extended range electric vehicles. 'We think that's a much better move than a $60,000 to $70,000 all-electric crossover,' Farley said. 'We think [offering a variety of powertrains] is really what customers are going to want long term, and we're investing a lot in more durable internal combustion engine powertrains.' FInal thoughts This development feels like a preview of the end result of something that Farley and his Blue Oval engineers have been working on since he and other Ford executives learned of the level of innovation that Chinese automakers were capable of. In a September 2024 profile written by Mike Colias and published by The Wall Street Journal, Farley was described less as a traditional businessman than as a hands-on executive obsessed with his competition. The piece centered around a trip to China in 2023, during which Farley and other Ford executives got the full picture of their Chinese competition. According to the Journal, Farley's fascination with Chinese automakers began when he and Ford CFO John Lawler test-drove an electric SUV made by Changan, Ford's joint venture partner in China. 'Jim, this is nothing like before,' Lawler said to Farley after the drive, per the Journal. 'These guys are ahead of us.' In light of the signing of the 'Big Beautiful Bill' and its provisions against EVs, Ford's EV announcement comes at an interesting time. Nonetheless, I wonder what kind of vehicle Farley will reveal in Kentucky come August 11. About the Author James Ochoa View Profile
