Ford Motor Company announced a $5 billion investment in U.S. electric vehicle production, calling it the firm's "next Model T moment." The plan includes a new assembly line, battery production, and a low-cost electric pickup truck priced at $30,000.
Ford says the project will add or secure 4,000 American jobs, with $2 billion earmarked for its Louisville, Kentucky plant, which will be converted from gas-powered SUVs to EVs.
Ford unveiled plans for a new line of budget electric vehicles in a $5 billion bid to achieve the mass appeal that has so far eluded its money-losing EV business https://t.co/m1cjyTIYEr
— Bloomberg (@business) August 11, 2025
The shift will result in about 600 fewer jobs due to efficiency gains. Additional investment will support a Michigan battery plant slated to open in 2027.
The company also announced a new battery design. This will be smaller, lighter, and cheaper, helping Ford compete in the EV market despite losing $2.2 billion in the segment in the first half of 2025.
The announcement comes amid Trump administration tariffs and calls for domestic manufacturing.
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