CEO Jim Farley says the company is poised to unveil a "breakthrough" EV and U.S.-built platform, calling it a pivotal moment in Ford’s history.
The strategy aims to leapfrog Chinese EV rivals by focusing on affordability, efficient design, and domestic battery production.
Ford’s Louisville Assembly Plant and BlueOval Battery Park in Michigan will anchor the automaker’s future in EV manufacturing.
Ford CEO Jim Farley says the company will reveal a new strategy next week that will be a “Model-T moment” for the 120-year-old automaker. Scheduled to be unveiled on August 11 in Kentucky, Ford’s new EV roadmap will be a major shift toward profitability and global competitiveness, with a spotlight on American engineering and production, he said.
Farley revealed that Ford will debut a “new family of vehicles” that he says will offer “incredible technology, efficiency, space and features.” Central to this strategy is the launch of a new EV platform designed and built in the U.S., marking a clear effort to distance Ford from its first-generation EVs and signal a more competitive approach against global, especially Chinese, EV manufacturers.
“This is a Model-T moment for us at Ford,” Farley told investors during the company's earnings call. “A chance to bring a new family of vehicles to the world,” the Detroit News reported. He emphasized that the vehicles would be more than just new designs — they represent a wholesale reinvention of Ford’s EV engineering and manufacturing playbook.
Louisville becomes Ground Zero
The Aug. 11 announcement will take place at Ford’s Louisville Assembly Plant, a site already transitioning toward EV production. The plant, which had been home to the Ford Escape and Lincoln Corsair, was earmarked in Ford’s 2023 UAW contract for a $1.2 billion investment and an “all-new EV product.” Recent filings also show that Ford is retooling the plant to support EV production, including the addition of charging infrastructure.
Its proximity to the BlueOval SK Battery Park in Kentucky and Ford’s lithium iron phosphate (LFP) battery plant in Marshall, Michigan, reinforces the company’s U.S.-centric production model — key to leveraging domestic tax incentives and reducing costs.
Lessons from China
Farley acknowledged that Ford’s chief EV competition isn’t the traditional global automakers but rather Chinese companies like BYD and Geely, which are known for building low-cost, high-quality electric cars. He cited a recent executive trip to China, where Ford’s leadership studied Chinese automakers to learn from their vertically integrated supply chains and cost-efficient platforms.
“Our strategy is very simple,” Farley said. “We believe the only way to really compete effectively with the Chinese… is to radically reengineer and transform our engineering, supply chain and manufacturing process.”
Ford’s refreshed EV approach will focus on a limited number of body styles — known in the industry as “top hats” — on flexible vehicle platforms. The idea is to concentrate resources where Ford can turn a profit. Despite increasing EV sales, the automaker reported a $1.3 billion loss in its Model e division in Q2, up from $1.1 billion a year earlier.
To hedge against EV market fluctuations, Ford will continue offering a range of powertrains, including hybrids and extended-range electric vehicles. “We think that’s a much better move than a $60,000 to $70,000 all-electric crossover,” Farley said.