Ford's New Budget Electric Car Starts at $30,000

On August 11, American automaker Ford Motor Company announced plans to launch its new series of affordable electric vehicles starting in 2027, including a mid-size pickup truck with a target starting price of $30,000. The company aims to achieve cost efficiency comparable to that of Chinese competitors.

Image source: Ford Motor Company

This all-new mid-size four-door pickup will be assembled at Ford's plant in Louisville, Kentucky, USA. Ford stated in a press release that it will invest nearly $2 billion in the plant and retain at least 2,200 jobs. At the same time, Ford plans to expand the plant by 52,000 square feet to improve material handling efficiency. A Ford spokesperson pointed out that the plant currently has about 2,800 employees, with the remaining 600 either retiring or being transferred to other locations.

Additionally, Ford Motor Company has confirmed that the products currently produced at its Louisville assembly plant—the Ford Escape and Lincoln Corsair—will cease production by the end of 2025. A Ford spokesperson stated that these two crossover models will continue to be sold at dealerships in 2026.

It is worth noting that this pickup truck will be built on a brand-new electric vehicle platform.Its production speed can be increased by up to40%。A Ford executive stated that the platform is as revolutionary as the product itself and will help Ford compete with low-cost Chinese rivals.

On August 11, Ford Motor Company unveiled the Ford Universal EV Platform. This platform is expected to support up to eight models, with the first vehicle based on it being a pickup truck whose size is closer to the Ford Maverick rather than the Ford Ranger. Ford stated that this pickup will offer more interior space than the Toyota RAV4, and it will also be equipped with a front trunk and a cargo bed.

Ford officially stated that the company's new production system has reduced wiring harnesses weighing up to 22 pounds and halved the number of cooling hoses required. Ford Motor Company pointed out that compared to conventional models, this platform reduces the total number of parts by 20%, fasteners by 25%, and workstations by 40%.

Ford Motor Company also revealed that this pickup truck will be equipped with low-cost lithium iron phosphate batteries produced at a new plant in western Michigan. Although it will not become profitable immediately, it is expected to achieve profitability eventually. Reducing the cost of all-electric models has always been one of the main goals of Ford CEO Jim Farley. He anticipates that this new series of electric vehicles will become profitable within a year.

According to reports, Chinese car manufacturers such as BYD are producing electric vehicles at costs far below those of Western car manufacturers by streamlining supply chains and production systems. Data from J.D. Power shows that in June this year, the average global selling price of electric vehicles was about $47,000. In contrast, the prices of many Chinese electric vehicle models range from $10,000 to $25,000.

Ford sells three electric vehicle models in the United States: the Mustang Mach-E SUV, the E-Transit van, and the F-150 Lightning pickup. In the first half of this year, sales of these models fell by 12% compared to the same period last year. Meanwhile, interest in hybrid models in the U.S. market has surged, with sales increasing by 27% during the same period. Additionally, Ford has recently postponed the production of the next-generation F-150 Lightning and E-Transit to 2028.