Ford Pledges $2B for Electric Vehicle Production in Louisville Plant
Ford Motor Company has declared a substantial $2 billion investment to revolutionize its Louisville Assembly Plant into a hub for electric vehicle production. This significant move is being hailed as the company’s “next Model T moment.”
Starting from 2027, the revamped plant is set to manufacture an affordable midsize electric pickup truck, with a base price set at a competitive $30,000.
The investment is a segment of a larger $5 billion commitment that also includes a battery plant in Michigan. This commitment is expected to secure 2,200 jobs and bring about innovative manufacturing processes.
As part of Ford’s new Universal EV Program, a streamlined production system is being introduced. This system is projected to reduce parts by 20% and assembly time by 15%. Furthermore, the use of American-made lithium iron phosphate batteries is anticipated to give Ford a competitive edge against Chinese electric vehicles.