Ford to Unveil New Electric Vehicle Line

Ford has announced it will unveil a new line of 'breakthrough' electric vehicles at an event in Kentucky on August 11, with CEO Jim Farley calling it a potential 'Model T moment' for the company. The move comes as Ford reported strong second-quarter revenue of $50 billion, despite an $800 million tariff loss and continued losses in its EV division. Ford's initiative follows a challenging period for the US EV market, including declining sales and reduced tax credits, leading the company to also emphasize hybrid and gas-powered vehicles. The trend of reviving discontinued models as EVs continues, though not all have met strong consumer demand. In the broader industry, companies like Alphabet's Waymo and Tesla are advancing autonomous and electric vehicle technologies, though profitability and scalability remain uncertain. This reflects major shifts and challenges in the global EV market.