Louisville(US), Aug 11 (AP) Ford Motor Co. will invest nearly USD 2 billion retooling a Kentucky factory to produce electric vehicles that it says will be more affordable, more profitable to build, and will outcompete rival models.The automaker’s top executive unveiled the new EV strategy Monday at Ford’s Louisville Assembly Plant which, after producing gas-powered vehicles for 70 years, will be converted to manufacture electric vehicles.Also Read | Ford recalls over 850,000 vehicles in US over fuel pump defect“We took a radical approach to solve a very hard challenge: Create affordable vehicles that are breakthrough in every way that matters – design, technology, performance, space and cost of ownership – and do it with American workers,” Ford CEO Jim Farley said in a release.The Big Detroit automakers have continued to transition from internal combustion engines to EV technology even as President Donald Trump’s administration unwinds incentives for automakers to go electric. Trump’s massive tax and spending law targets EV incentives, including the imminent removal of a credit that saves buyers up to USD 7,500 on a new electric car.Yet Farley and other top executives in the auto industry say that electric vehicles are the future and there is no going back.Also Read | ‘We both wanted to drive’: Brad Pitt on why Ford vs Ferrari didnt come through with Tom Cruise The first EV to roll off the revamped Louisville assembly line will be a midsize, four-door electric pickup truck in 2027 for domestic and international markets, the company said Monday.The new electric trucks will be powered by lower-cost batteries made at a Ford factory in Michigan. The Detroit automaker previously announced a USD3 billion investment to build the battery factory.The automaker sees this as a “Model T moment” for its EV business – a reference to the mass-produced vehicle that launched the venerable automaker more than a century ago. But Ford says it’s also a nod to the future and the vastly different way Ford says it will build electric vehicles.The company said it will use a universal platform and production system for its EVs, essentially the underpinning of a vehicle that can be applied across a wide range of models, from sedans to SUV, and include both electric internal combustion vehicles.The Louisville factory – one of two Ford assembly plants in Kentucky’s largest city – will be revamped to cut production costs and make assembly time faster as it’s prepared to churn out electric vehicles.Also Read | Ford’s fat dividend could be a casualty of tariffsThe result will be “an affordable electric vehicle that we expect to be profitable,” Farley said in an interview with The Associated Press ahead of the announcement. “This is an example of us rejuvenating our US plants with the most modern manufacturing techniques.”The new platform enables a lineup of affordable vehicles to be produced at scale, Ford said. 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Ford plans to invest almost $2 billion in its electric vehicle assembly facility in Kentucky, with the goal of surpassing competitors.
