Ford to Reveal New Affordable EVs - August 11th

Ford's Upcoming Affordable EVs: A Potential Turning Point

Further details regarding Ford’s forthcoming line of budget-friendly electric vehicles will be unveiled at an event scheduled for August 11th in Kentucky. The company’s leadership is expressing considerable optimism, with CEO Jim Farley characterizing the announcement as a “Model T moment” for Ford.

Recent Financial Performance & Market Challenges

Farley’s statements followed the disclosure that Ford’s EV division experienced a loss of approximately $1.3 billion during the second quarter of 2025. Sales figures for the F-150 Lightning and Mustang Mach-E, the company’s current leading electric models, are demonstrating a downward trend. This occurs amidst a potentially more challenging environment for electric vehicle adoption under a future second Trump administration.

The Skunkworks Project & Key Personnel

Ford initially disclosed the existence of a dedicated, independent team focused on developing a low-cost electric vehicle in February 2024. This initiative is spearheaded by Alan Clarke, a former executive from Tesla.

The team comprises highly skilled professionals sourced from prominent companies within the EV sector, including Tesla, Rivian, Apple, and Lucid Motors.

Future Vehicle Plans & Platform Strategy

While Ford has maintained a degree of discretion regarding specific details, the company has confirmed that the inaugural vehicle built upon this new, cost-effective platform will be a mid-size pickup truck, anticipated for release in 2027.

Ford intends to utilize this platform to produce a diverse range of vehicle styles, catering to both individual consumers and commercial clients. These vehicles will also incorporate “personalized digital experiences” for users.

The Timeline & Competitive Landscape

The introduction of more affordable models could significantly benefit Ford, however, 2027 remains some time away.

Currently, the U.S. market lacks readily available, mass-market electric vehicles priced at or below $30,000. This situation is expected to change when Ford’s new EVs become available in two years.

Several other manufacturers are also entering this segment. Tesla plans to offer a more basic version of the Model Y SUV later this year. General Motors is reviving the Chevy Bolt in the coming year. Furthermore, Slate Auto, a startup backed by Jeff Bezos, is preparing to launch its own low-cost electric pickup truck as early as late 2026.

The competition is heating up as multiple companies race to deliver affordable electric vehicle options to consumers.