Latest news with #UniversalEVProgram
Miami Herald
2 days ago
- Automotive
- Miami Herald
Ford to build new EV truck at Louisville, Ky., plant, invest $2B
Aug. 11 (UPI) -- Ford announced Monday it will invest $2 billion and secure nearly 2,200 jobs in a Louisville, Ky., assembly plant that will build more affordable electric vehicles. This is on top of the $3 billion planned for a battery park in Michigan. Together, the two will secure nearly 4,000 jobs. "This announcement not only represents one of the largest investments on record in our state, it also boosts Kentucky's position at the center of EV-related innovation and solidifies Louisville Assembly Plant as an important part of Ford's future," said Kentucky Gov. Andy Beshear. "Thanks to Ford's leaders for their continued faith in Kentucky and our incredible workforce. Ford and Kentucky have been a tremendous team for more than 100 years, and that partnership has never been stronger than it is today." Louisville Assembly Plant, one of two Ford plants in Louisville, will expand by 52,000square feet to move material more efficiently, a press release said. Digital infrastructure upgrades will give Louisville Assembly Plant the fastest network with the most access points out of any Ford plant globally, enabling more quality scans. "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 said in the release. The first low-cost EV in Ford's new "Universal EV Program" will be a midsize, four-door electric pickup produced at the Louisville Assembly Plant. That vehicle launch is scheduled for 2027. The electric truck will cost about $30,000, the press release said. "As fast as a Mustang EcoBoost. More passenger space than the latest Toyota RAV4 -- with a frunk [front trunk] and a bed." The batteries for the truck will be assembled at the BlueOval Battery Park in Marshall, Mich., outside of Battle Creek. Ford called the announcement a "Model T Moment" because the price of the new truck will be roughly the same price as a Model T was when adjusted for inflation. Farley said in the announcement in Louisville that this investment comes as the automotive industry is at a crossroads because of new technology and new competition. "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," CNBC reported Farley said. "We needed a radical approach and a really tough challenge to create an affordable vehicle." Ford said the Louisville plant will "secure" about 2,200 jobs, but noted that once it's retooled for EV production, it will employ about 600 fewer workers than it has now. As of April 2024, it had more than 3,000 employees. Copyright 2025 UPI News Corporation. All Rights Reserved.
UPI
2 days ago
- Automotive
- UPI
Ford to build new EV truck at Louisville, Ky., plant, invest $2B
Aug. 11 (UPI) -- Ford announced Monday it will invest $2 billion and secure nearly 2,200 jobs in a Louisville, Ky., assembly plant that will build more affordable electric vehicles. This is on top of the $3 billion planned for a battery park in Michigan. Together, the two will secure nearly 4,000 jobs. "This announcement not only represents one of the largest investments on record in our state, it also boosts Kentucky's position at the center of EV-related innovation and solidifies Louisville Assembly Plant as an important part of Ford's future," said Kentucky Gov. Andy Beshear. "Thanks to Ford's leaders for their continued faith in Kentucky and our incredible workforce. Ford and Kentucky have been a tremendous team for more than 100 years, and that partnership has never been stronger than it is today." Louisville Assembly Plant, one of two Ford plants in Louisville, will expand by 52,000 square feet to move material more efficiently, a press release said. Digital infrastructure upgrades will give Louisville Assembly Plant the fastest network with the most access points out of any Ford plant globally, enabling more quality scans. "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 said in the release. The first low-cost EV in Ford's new "Universal EV Program" will be a midsize, four-door electric pickup produced at the Louisville Assembly Plant. That vehicle launch is scheduled for 2027. The electric truck will cost about $30,000, the press release said. "As fast as a Mustang EcoBoost. More passenger space than the latest Toyota RAV4 -- with a frunk [front trunk] and a bed." The batteries for the truck will be assembled at the BlueOval Battery Park in Marshall, Mich., outside of Battle Creek. Ford called the announcement a "Model T Moment" because the price of the new truck will be roughly the same price as a Model T was when adjusted for inflation. Farley said in the announcement in Louisville that this investment comes as the automotive industry is at a crossroads because of new technology and new competition. "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," CNBC reported Farley said. "We needed a radical approach and a really tough challenge to create an affordable vehicle." Ford said the Louisville plant will "secure" about 2,200 jobs, but noted that once it's retooled for EV production, it will employ about 600 fewer workers than it has now. As of April 2024, it had more than 3,000 employees.
