Ford will reveal more information about future low-cost electric vehicles at an event in Kentucky on August 11th. The company is talking about a very big game.
Farley commented after Ford revealed that its electric vehicle division announced a loss of around $1.3 billion in the second quarter of 2025. Sales of the company’s top two EVs, the F-150 Lightning and the Mustang Mach-E, are declining.
Farley first revealed in February 2024 that Ford was developing a low-cost electric vehicle with the Skunkworks team. As TechCrunch first reported, the effort is led by former Tesla executive Alan Clarke, and the team meets the talent of companies such as Tesla, Rivian, Apple and Lucid Motors.
The company has deliberately blurred the details, but it has confirmed that the vehicle first built on this new, low-cost platform will become a mid-sized pickup truck set to be released in 2027. Ford says that on the platform, they will build “multiple vehicle styles” with both retail and commercial customers, and that these vehicles will feature a “personalized digital experience.”
The cheaper model could help Ford, but 2027 is still a long way to go.
Essentially, there are no mass market electric vehicles available in the US for under $30,000, but that’s not the case if Ford’s secret EV hits the market in two years. Tesla says it will begin selling its peeled (and perhaps smaller) Model Y SUV later this year. General Motors is reviving the Chevrolet Volt next year. Jeff Bezos-backed startup Slate Auto will be selling its own low-cost electric pickup in the second half of 2026.
Source link
