Ford Motor is developing a new electric vehicle platform that will underpin a $30,000 midsize EV pickup, as the automaker seeks to compete with Tesla and China’s BYD in the affordable electric segment. Production is slated to begin in 2027 at the company’s Louisville Assembly Complex in Kentucky.
Chief Executive Jim Farley said the new model will be the first in a family of low-cost EVs built on what he called the “Ford Universal EV Platform.” Speaking on The Verge’s Decoder podcast, Farley described the new approach as “a breakthrough for developing and delivering an affordable electric platform to customers,” adding that Ford needed to “radically reduce the cost and the complexity of the vehicle” to achieve mass-market pricing.
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Farley said the upcoming model is “really not a pickup,” but rather a vehicle with a “new silhouette.” The design will reportedly offer more interior space than the Toyota RAV4, while including both a frunk and a compact truck bed. Ford aims for performance figures comparable to the Mustang EcoBoost, targeting a 0–60 mph time of about 4.5 seconds. The EV will feature rear-wheel drive and a new digital user interface that the company says will set it apart from current offerings in the U.S. and China.
The $30,000 electric model will use lithium-iron phosphate (LFP) batteries sourced from Ford’s planned facility in Michigan, developed under a technology licensing agreement with China’s CATL. The battery choice is expected to help reduce production costs and improve durability. The vehicle’s dimensions will place it in the same segment as Ford’s Ranger or Maverick pickups.
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Although Ford has not confirmed the vehicle’s name, industry observers have noted that the automaker recently filed a trademark for the “Ranchero” nameplate with the U.S. Patent and Trademark Office. The Ranchero, sold in the 1960s and 1970s, was promoted as “more than a car, more than a truck” — a slogan that aligns closely with Farley’s description of the company’s upcoming electric model.
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