Ford is shifting its strategy in the electric vehicle (EV) market by introducing the Ford Universal EV Platform, aimed at creating a family of lower-cost EVs. The first model will be a midsize, four-door electric pickup with an expected starting price of about $30,000. Production will be based at the Louisville Assembly Complex in Kentucky, supported by a $5 billion investment that will create nearly 4,000 jobs, with deliveries set to begin in 2027.
Ford’s electric vehicle division has incurred approximately $12 billion in losses over the past two and a half years, including $2.17 billion in the first half of this year. In contrast, General Motors sold over 46,000 EVs in the second quarter of 2025, significantly more than Ford’s total. The automaker also faces a projected net $2 billion in tariff-related costs for 2025, exacerbated by costly recalls affecting its gasoline-powered lineup.
Ford CEO Jim Farley views the affordable EV initiative as its next “Model T moment” and plans to enhance battery production using lithium iron phosphate technology in the U.S., potentially reducing overall costs and improving vehicle design. However, analysts emphasize the need for the company to prove the economic viability of this strategy before significant market impact can be realized.
