Ford is set to unveil a new low-cost electric vehicle (EV) on August 11 in Kentucky, an event CEO Jim Farley describes as a “Model T moment” for the company. This announcement follows a challenging second quarter in 2025, during which Ford’s EV division reported a loss of approximately $1.3 billion. Sales of the F-150 Lightning and Mustang Mach-E have been declining, prompting the company to seek a transformative approach to its EV strategy.
The upcoming vehicle is being developed by a specialized “skunkworks” team, led by former Tesla executive Alan Clarke. This team comprises experts from companies like Tesla, Rivian, Apple, and Lucid Motors. The first model from this initiative is expected to be a mid-size pickup truck, slated for release in 2027. Ford plans to build multiple vehicle styles on this new platform, catering to both retail and commercial customers, with features including personalized digital experiences.
To achieve cost-effectiveness, Ford is utilizing lithium iron phosphate (LFP) batteries, which are more affordable than traditional lithium-ion batteries. These batteries will be produced domestically at the BlueOval Battery Park in Michigan, aiming to reduce reliance on international suppliers. The new platform is designed to be flexible, supporting various body styles such as trucks, crossover SUVs, and potentially sedans.
This strategic move positions Ford to compete more effectively with Chinese automakers like BYD and Geely, who have been leading the affordable EV market. The company aims to offer a compelling alternative to low-cost EVs from these manufacturers, which have been gaining traction in global markets.
