Ford is making a significant push into the electric vehicle (EV) market with plans to launch an affordable, midsize electric pickup truck with a targeted starting price of around $30,000. This move is aimed at capturing a larger share of the rapidly expanding EV market and undercutting rivals with a compelling combination of price and functionality. The company is investing $5 billion in its Kentucky and Michigan plants to support the development and production of this new EV and the batteries that will power it.
The new electric pickup, slated for launch in 2027, will be assembled at Ford's Louisville Assembly Plant in Kentucky and is intended for both the U.S. and export markets. The lithium iron phosphate (LFP) batteries for the truck will be produced at the BlueOval Battery Park in Michigan. This strategic decision to manufacture LFP batteries in the U.S. is expected to lower costs and free up interior space within the vehicle.
Ford's new EV will be the first vehicle built on the company's Universal EV Platform, designed to reduce manufacturing costs and streamline production. Ford claims the platform reduces parts by 20% compared to a typical vehicle, with 25% fewer fasteners, 40% fewer workstations, and a 15% faster assembly time. This simplified design and efficient production process are key to achieving the targeted $30,000 price point.
The midsize electric pickup is expected to offer more passenger space than the Toyota RAV4, along with a "frunk" (front trunk) and a traditional pickup bed. Ford is targeting a 0-60 mph acceleration time as quick as a Mustang EcoBoost, suggesting a focus on performance in addition to practicality. The vehicle will also feature over-the-air update capabilities and Ford's BlueCruise hands-free driving-assist system. Ford says the new truck will support fast charging, boast "amazing range," and be able to power a house for up to six days thanks to its bidirectional charging capabilities.
Ford's CEO Jim Farley has emphasized the company's commitment to creating affordable EVs that are also desirable and enjoyable to drive. He has referred to this new EV platform and production system as a "Model T moment" for Ford, signaling a radical shift in how the company designs and builds vehicles.
This move comes as the electric truck market is gaining momentum, with established players like the Ford F-150 Lightning and Rivian R1T already on the road and new entrants like the Tesla Cybertruck and Chevrolet Silverado EV generating excitement. Ford's affordable midsize electric pickup has the potential to disrupt this market by offering a more accessible option for a wider range of consumers.
While the average price of a new EV in July 2025 was around $56,000, Ford aims to bring a capable and appealing electric truck to market at nearly half that price. If successful, this strategy could significantly boost EV adoption and solidify Ford's position in the electric vehicle landscape.
