Ford to Unveil Affordable EV Platform August 11

Ford CEO Jim Farley announced that the company will unveil a 'Model T moment' on August 11 in Kentucky, revealing a new electric vehicle and platform designed to transform Ford's EV strategy. The initiative, led by former Tesla engineer Alan Clarke and developed by a 'skunkworks' team, focuses on affordability, advanced technology, and domestic manufacturing to compete with Chinese automakers. The new platform will support several models, including a compact SUV, small pickup, and delivery vehicle, with prices starting around $25,000. Ford will use lithium iron phosphate batteries produced at its BlueOval Battery Park to lower costs and boost profitability. The announcement comes amid financial challenges from tariffs, expiring U.S. EV tax credits, and a cooling EV market. Farley emphasized the move as crucial for Ford's global competitiveness and mass-market EV adoption.