Ford is preparing for a new era in the transition to electric mobility. The company will publicly announce its low-cost electric vehicle strategy at a special event in Kentucky on August 11th. Ford CEO Jim Farley described the upcoming announcement as a milestone in the company’s history.
Ford is coming with affordable electric vehicles
The company’s new plans come amidst financially challenging times. Ford’s electric vehicle division reported a loss of approximately $1.3 billion in the second quarter of 2025. Sales of existing models such as the Mustang Mach-E and F-150 Lightning are declining, while the upcoming US election and Donald Trump’s harsh policies against electric vehicles are creating uncertainty across the industry.
The low-cost electric vehicle project was first announced in February 2024. At the time, Jim Farley stated that a secret team was leading the project. The team is led by Alan Clarke, a former Tesla employee. Ford’s new electric vehicle initiative is staffed by engineers transferred from companies such as Rivian, Lucid Motors, Apple, and Tesla.
Technical specifications for the new electric vehicles have not yet been released. However, it has been confirmed that the first model will be a mid-size electric pickup truck and will go on sale in 2027. Ford plans to develop models in various body styles for retail and commercial customers based on this platform. All vehicles will be equipped with personalized digital experiences.
Ford’s move comes in an increasingly competitive market. Tesla plans to introduce a less expensive Model Y version by the end of the year. General Motors is preparing to relaunch the Chevrolet Bolt in 2026. Slate Auto, backed by Jeff Bezos, aims to launch its affordable electric pickup truck in late 2026.
Ford’s event on August 11th isn’t just a new model launch; it represents a critical shift in direction for the company’s electric vehicle vision. With the first model due to be released by 2027, the effectiveness of this strategy will become clear in the coming years.
