Ford has announced its plans to introduce a new family of affordable electric vehicles (EVs) by 2027, with a focus on a midsize four-door electric pickup truck priced at around $30,000. This electric pickup will be manufactured at Ford’s Louisville assembly plant, serving both the US and export markets.
To support this initiative, Ford is investing nearly $2 billion to transform and expand the Louisville facility by 52,000ft² for material movement. This investment, along with incentives from the Kentucky Economic Development Finance Authority, is expected to preserve 2,200 hourly jobs.
Part of a larger $5 billion commitment, this investment also includes the establishment of the BlueOval Battery Park in Michigan, US. This facility will produce prismatic lithium iron phosphate (LFP) batteries for the upcoming midsize electric truck, starting production next year.
Overall, these investments are projected to create or maintain close to 4,000 direct jobs and establish a network of new suppliers in the US. Ford’s new Universal EV Platform and EV Production System were developed by an EV software and hardware team in California, simplifying the assembly process with fewer parts and fasteners, resulting in a 15% quicker assembly time.
The electric truck will feature cobalt-free and nickel-free LFP prismatic batteries that double as the vehicle’s floor, enhancing interior space, handling, and cabin quietness. Ford promises that the upcoming midsize truck will offer more passenger room than the current Toyota RAV4 and will have a 0-60 time comparable to a Mustang EcoBoost.
Further details, such as the reveal date, Environmental Protection Agency (EPA)-estimated battery range, and charge times, will be announced later. Ford’s CEO and president, Jim Farley, expressed confidence in the project, stating, “We took a radical approach to a very hard challenge: Create affordable vehicles that delight customers in every way that matters.”
In its second-quarter financial report for 2025, Ford disclosed a net loss of $36 million, primarily due to special charges and costs related to the cancellation of an electric vehicle program. Despite this setback, Ford remains committed to its EV initiatives and is forging ahead with its plans for a new lineup of electric vehicles.
