Ford Motor Co said on Monday it will launch a new midsize electric pickup built on its Universal EV Platform, aiming to offer lower ownership costs than a Tesla Model Y and more passenger space than a Toyota RAV4, with a starting price of around $30,000.
The upcoming electric pickup will be assembled at Ford’s Louisville Assembly Plant and is part of the company’s broader strategy to introduce affordable electric vehicles designed to optimize efficiency and reduce costs, the company said.
“We took a radical approach to a very hard challenge: Create affordable electric vehicles that delight customers in every way that matters – design, innovation, flexibility, space, driving pleasure, and cost of ownership,” Ford CEO Jim Farley said during the platform unveiling event in Kentucky.
Farley said the new platform significantly streamlines vehicle production by reducing parts by 20%, decreasing fasteners by 25%, and cutting assembly time by 15%. He added that Ford’s proprietary prismatic lithium iron phosphate (LFP) batteries, manufactured in the U.S., not only lower costs but also improve interior space by lying flat under the floor.
The new pickup will offer more passenger room than the latest Toyota RAV4, Ford said, with additional cargo space provided by a front trunk (“frunk”) and traditional truck bed.
Farley also emphasized cost savings for owners, claiming that the Universal EV Platform would deliver a “lower cost of ownership over five years than a three-year-old used Tesla Model Y.” He highlighted the improved efficiency of the new design, citing a wiring harness that is 4,000 feet shorter and 10 kilograms lighter compared to earlier EV models.
Doug Field, Ford’s Chief EV, Digital, and Design Officer, said the vehicle draws inspiration from Ford’s historic Model T by aiming to be more than just a utilitarian truck. The pickup targets a 0 to 60 mph acceleration comparable to the Mustang EcoBoost and promises enhanced driving dynamics.
Ford has yet to reveal specific details on the pickup’s range, battery capacity, and charging times, but plans to release more information soon. The company expects to begin customer deliveries in 2027.
The automaker has invested approximately $5 billion into the Louisville Assembly Complex to support production of the new electric pickup and domestic LFP battery manufacturing, creating nearly 4,000 jobs.