NPR - Ford Motor Company executives announced yesterday that they plan to retool the Louisville Assembly Plant in Kentucky to produce more affordable electric vehicles instead of Ford Escapes. Ford is investing billions in EVs, marking the first time the company has bet big on these vehicles. The company is building its proposal around a midsize pickup truck with a target price of $30,000. This is at least $20,000 cheaper than most other electric trucks. Ford CEO Jim Farley called the truck a new "Model T" moment for the factory.
Ford has been trying to crack into the EV market for years, according to NPR's Camila Domonoske. Executives are thinking about more than just the climate, she says. They want to be more globally competitive. Chinese automakers are producing cheap, high-quality EVs that sell well around the world. Farley has said for years it's an “existential threat” if companies like his, which also sell cars globally, cannot keep up.
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