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Ford announces $2 billion investment in Louisville assembly plant aimed at cheap EVs


Ford announces $2 billion investment in Louisville assembly plant aimed at cheap EVs
Published Mon, Aug 11 2025


Ford on Monday announced it would invest $2 billion in a Louisville,
Kentucky, assembly plant aimed at rolling out more affordable electric vehicles.
The investment comes on top of $3 billion already planned for a battery
park in Michigan.
The Detroit automaker plans to produce a midsize, four-door electric pickup
at the Louisville Assembly Plant, slated for 2027.


Ford CEO on $2B EV investment: This is the right direction for Ford to turnaround our business

Ford on Monday announced it would invest $2 billion in a Louisville,
Kentucky, assembly plant aimed at rolling out more affordable electric vehicles.

The investment comes on top of $3 billion already planned for a battery
park in Michigan. Together the facilities will create or secure nearly
4,000 new jobs, Ford said in a news release.

We took a radical approach to a very hard challenge: Create affordable
vehicles that delight customers in every way that matters design,
innovation, flexibility, space, driving pleasure, and cost of ownership
and do it with American workers, Ford CEO Jim Farley said in the release.

The Detroit automakers new Universal EV Program centered around low-cost
EVs will start with a midsize, four-door electric pickup, produced at the Louisville Assembly Plant. That vehicle launch is slated for 2027.

Executives had teased the announcement on the companys latest earnings call
as its next Model T moment. Ford said the starting price of the new EV
truck, $30,000, will be roughly the same as the famed Model T, when
adjusted for inflation.

Ford noted that lithium iron phosphate (LFP) batteries for the new family
of EVs will be assembled in the U. S. and not imported from China.
MIAMI, FLORIDA - MAY 06: An aerial view as a Ford sign stands on the sales
lot of the Metro Ford dealership on May 06, 2025 in Miami, Florida. Ford
Motor Co. pulled its 2025 guidance and said it expects a tariff hit of
about $1.5 billion for the year as U. S. automakers face economic
uncertainty. (Photo by Joe Raedle/Getty Images)
An aerial view as a Ford sign stands on the sales lot of the Metro Ford dealership on May 06, 2025 in Miami, Florida.
Joe Raedle | Getty Images

Farley said during an event in Louisville on Monday that the announcement
comes as the automotive industry is at a crossroads because of new
technology and competition.

We knew that the Chinese would be the major player for us globally,
companies like BYD, new startups from around the world, big technology has their ambition in the auto space. Theyre all coming for us, legacy
automotive companies, Farley said. We needed a radical approach and a
really tough challenge to create an affordable vehicle.

The changes also come as Ford and other U. S. manufacturers are navigating shifting EV policies under President Donald Trump, including an end to EV
tax credits that will take effect after Sept. 30.

Ford said Monday that the Louisville plant will secure about 2,200 jobs,
but noted that once its retooled for EV production, it will employ about
600 fewer workers than in its current configuration.

According to the Ford website, the plant employed more than 3,000 employees
as of April 2024.

Farley told CNBCs Phil LeBeau during an interview with Squawk on the Street
on Monday that the automaker continues to add new jobs elsewhere.

Fords the only car company in America thats added 13,000 jobs since the recession. Were not going to stop, Farley said.

CNBCs Phil LeBeau contributed to this report.

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