Ford is going to disclose more information about the upcoming low -cost electric vehicles at an event in Kentucky on August 11th. And the company is talking a very big game: CEO Jim Farley said Wednesday that the announcement is “a TO Model T” for Ford.
Farley made the comments after Ford revealed that its electric vehicle section published a loss of about $ 1.3 billion in the second quarter of 2025. Sales of the company’s two top EVs, the F-1550 Lightning and the Mustang Mach-E, are reduced, all things seem to be more and more.
Farley first revealed that Ford had a team of skunkworks that develops a low -cost electric vehicle in February 2024. As TechCrunch said for the first time, the effort is guided by former Tesla Alan Clarke executive Lucid motors.
The company was deliberately unclear for any details, but admitted that the first vehicle to be built on this new low -cost platform would be a medium -sized truck released in 2027.
The cheapest models could help Ford, but 2027 is still far away.
While there are no basic mass market vehicles available in the US in or less than $ 30,000, this will probably not happen when Ford’s secrets hit the market in two years. Tesla said he would start selling an SUV model of stripped (and possibly smaller) model Y later this year. General Motors is Bringing back the chevy bolt next year. And Jeff Bezos supported by Slate Slate Auto places his own low -cost electricity on sale already in the late 2026th.
