Ford Motor Company is investing $5 billion in its Kentucky and Michigan plants to produce a new electric pickup truck, which it claims will be more affordable than comparable models from Tesla or Toyota. The company’s president and CEO, Jim Farley, announced the plans on Monday, saying that the new truck will be built using a revolutionary assembly line design that allows for faster production and lower costs.
The midsize four-door truck, set to hit consumers in 2027, boasts a starting price of around $30,000 and is expected to appeal to commuters who can charge their vehicles at home. Ford expects the electric vehicle (EV) market to be attractive to customers, particularly those who only drive short distances daily.
“We’re not just building another EV,” Farley said. “We’re changing the way we build cars.” The new assembly line design, dubbed the “assembly tree,” features three separate sub-assemblies that run simultaneously before joining together to form the final product. This approach is expected to increase production efficiency by 40% and reduce labor costs.
Ford’s investment in electric pickup trucks marks a significant shift for the company, which has been struggling to compete with Tesla in the EV market. However, Farley believes that Ford can succeed by focusing on affordability and making EVs more accessible to consumers.
Source: https://www.foxbusiness.com/media/ford-invests-5b-kentucky-michigan-plants-new-affordable-electric-pickup-truck-production