Ford Motor Co. is investing nearly $2 billion in Kentucky with the launch of a new electric vehicle that will be available to customers in 2027.
The truck will be assembled at the Louisville Assembly Plant using a new system expected to increase production speeds dramatically.
CEO Jim Farley said on Aug. 11 that in total, the company is investing $5 billion on EV production not only in Louisville, but also at the BlueOval Battery Park in Michigan.
Here’s what we know about Ford’s investment in Kentucky.
Farley previously described the Aug. 11 announcement as a “Model-T moment” for Ford — a reference to the historic vehicle that essentially launched the automaker 120 years ago.
Along with the launch of a new vehicle, Ford is establishing a Universal EV Platform that will allow “affordable” vehicles to be produced and scaled to meet customer demand, The Courier Journal reported. Ford will also be the first automaker to use prismatic LFP batteries to power EVs, which saves space and weight in the vehicles while also being more affordable than other batteries.
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The company is additionally using a new assembly line method that is expected to increase production speeds at the Louisville Assembly Plant by up to 40% when compared to the speed of production of the current Ford Escape and Lincoln Corsair, which are currently built on site.
Recent investment announcements follow Ford losing $1.3 billion in the second quarter on the EV unit of the company and a further delay in the production of two EV products to 2028.
Ford in Kentucky: Ford announces $5B investment, 4,000 new EV jobs, with Louisville to produce new EV truck
The new EV vehicle is a midsize four-door pickup truck and will be “as fast as a Mustang EcoBoost” and have more passenger space than the competitor Toyota RAV4, Ford said. It will also feature a “frunk” or front trunk and have a truck bed, like several other EVs.
The vehicle will be assembled at the Louisville Assembly Plant off Fern Valley Road.
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The truck will have a starting cost of around $30,000, The Courier Journal reported.
Previously: Ford further pushes out production of 2 EVs to focus on affordability
The truck is expected to be available to customers in the U.S. and overseas in 2027.
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Ford is investing $1.9 billion at the Louisville Assembly Plant. Gov. Andy Beshear said the investment is one of the largest economic development projects on record for Kentucky.
“This announcement not only represents one of the largest investments on record in our state, it also boosts Kentucky’s position at the center of EV-related innovation and solidifies Louisville Assembly Plant as an important part of Ford’s future,” Beshear said. “Thank you to Ford’s leaders for their continued faith in Kentucky and our incredible workforce. Ford and Kentucky have been a tremendous team for more than 100 years, and that partnership has never been stronger than it is today.”
Louisville Mayor Craig Greenberg also said the announcement is “transformational” and that the company has been “part of the fabric” of the city for more than a century.
“Ford’s decision to maintain a strong manufacturing presence here reaffirms that Louisville is the best place in America for manufacturing, we have momentum, and we look forward to building on this trusted partnership with Ford for generations to come,” he said.
Previously: Ford will have ‘Model-T moment’ on Aug. 11, CEO Jim Farley says
LAP currently has about 3,000 workers, with 2,800 as hourly. The new EV project will start with 2,200 employees, which is 600 fewer hourly jobs.
Ford spokesperson Mark Truby said the company is not planning layoffs. Some workers will likely take a buyout offer while others will have the option to transfer to the Kentucky Truck Plant or “other plants in the area.”
“This project will start with 2,200 hourly workers, so 600 fewer workers than we have today, but it’s a lot of headroom to grow,” Truby said.
Reporters for The Courier Journal Olivia Evans and Matthew Glowicki contributed. Detroit Free Press reporter Jamie LaReau contributed. Reach Marina Johnson at Marina.Johnson@courier-journal.com.
This article originally appeared on Louisville Courier Journal: ‘Model-T moment:’ Ford to invest $5 billion in Kentucky and Michigan