Ford to Reveal “Breakthrough EV and Platform” on August 11
Ford has put the brakes on its electric vehicle and battery plans, saying it wants to focus on SUVs and trucks that better meet consumer needs, such as hybrids. However, the automaker is preparing to make a major EV announcement soon.
“August 11 will be a big day for all of us at Ford,” CEO Jim Farley said during a second-quarter earnings call on Wednesday. “We will be in Kentucky to share more about our plans to design and build a breakthrough electric vehicle and a platform in the U.S."
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He likened the event to “a Model T moment for us at Ford,” referring to the world’s first mass-produced automobile over 100 years ago. Expect “incredible technology efficiency, space and features,” Farley said.
What could it be? Well, we learned back in February 2024 that a dedicated team operating as a startup outside of the traditional company structure has been secretly working on a low-cost electric platform for quite some time. This new architecture will underpin multiple products coming in the second half of the decade, including a compact SUV and pickup, possibly even a delivery vehicle.
The goal, Farley expressed at the time, is to counter "affordable Teslas and Chinese OEMs."
So, there's a good chance this is what Ford plans to unveil on August 11. We should also learn more about timing and availability, in a context where the U.S. tax credit for the purchase of electric vehicles is set to end (after September 30, 2025).
At least having production in Kentucky will spare Ford from paying the newly implemented tariffs on foreign-made vehicles, which cost it US$800 million in the second quarter. Furthermore, substantial savings will be achieved by using lithium iron phosphate (LFP) batteries, which are less expensive to manufacture.
Ford, which currently sells the Mustang Mach-E, F-150 Lightning and E-Transit, is lagging behind General Motors and Tesla in the electric space.
