Ford Motor Co. announced a $5 billion investment to overhaul manufacturing in Kentucky and Michigan, promising nearly 4,000 jobs and introducing a new midsize electric pickup priced at around $30,000, slated for a 2027 launch.
The transformation includes $2 billion to revamp the Louisville Assembly Plant into a cutting-edge EV production site using an “assembly tree” system — sub assemblies built in parallel then joined — boosting efficiency by as much as 40%. The initiative also features a $3 billion Michigan battery plant to produce lithium iron phosphate (LFP) structural batteries.
Ford also announced its new Universal EV Platform, which will first underpin the new midsize electric pickup to be produced at Louisville Assembly Plant. The platform reduces parts by 20% versus a typical vehicle, with 25% fewer fasteners, 40% fewer workstations dock-to-dock in the plant and 15% faster assembly time.
Ford said the vehicles built on the platform will have a lower cost of ownership over five years than a 3-year-old used Tesla Model Y.
The pickup is expected to have a 0-60 mph time as fast a Mustang EcoBoost. Additional specifications, including reveal date, starting price, EPA-estimated battery range, battery sizes and charge times, will be announced later.
“We took inspiration from the Model T — the universal car that changed the world,” said Doug Field, Ford chief EV, digital and design officer. “We assembled a really brilliant collection of minds across Ford and unleashed them to find new solutions to old problems. We applied first principles engineering, pushing to the limits of physics to make it fun to drive and compete on affordability. Our new zonal electric architecture unlocks capabilities the industry has never seen. This isn’t a stripped down, old school vehicle.”
Full-Size EV Plans Postponed
The announcement came on the heels of Ford’s previous news that it is postponing production on its next-generation full-size EV pickup and an E-Transit van. They will now enter production in 2028, a year later than initially planned.
Pushing the high-dollar full-size EV truck to 2028 freed engineering resources for the low-cost program and let Ford wait for next-generation LFP battery packs that could materially lower cell costs. It also avoids flooding a cooling EV market with another six-figure truck; F-150 Lightning sales have softened as incentives wane and interest rates stay high.
