Ford’s EV “Model T” moment starts with a $30,000 midsize truck

Ford on Monday touted a new vision for producing low-cost electric vehicles in the US, drawing parallels between the announcement and its iconic Model T.

According to CEO Jim Farley, Ford will build multiple low-cost EVs at its Louisville assembly plant through a new production process. The first vehicle produced through the new platform is planned for 2027 and will be a midsize EV truck starting at $30,000.

Created as a result of a three-year “skunkworks” project helmed by ex-Tesla engineer Alan Clarke, the new production system leaves the single assembly line behind, instead shifting to three concurrent assembly lines that will join together at the end of the production process.

Automation will be central to the new system, which will require 2,200 workers (600 fewer than currently work at the Louisville plant). Ford has said it doesn’t expect layoffs as a result of the new model.

The plans will see Ford invest more than $2 billion into Kentucky.

The announcement comes as Ford has struggled to maintain momentum in its EV business. A new low-cost rival, the Amazon-backed Slate Auto, has garnered significant attention from price-weary customers. Ford’s electric division has already lost more than $2 billion this year through June.

“I don’t think that the new EV startups will be able to keep up with the kind of innovation that you’re seeing in manufacturing, and how they can actually turn this into a reality,” Ford EV chief Doug Field said, seemingly casting some shade at Slate and other EV rivals. “New ideas are easy. Innovation is actually delivering ideas, and delivering those ideas in a way that millions can access them.”