Ford CEO Jim Farley has hinted at a pivotal moment for the company, calling it a ‘Model T moment,’ as the company prepares to unveil a new electric vehicle strategy on August 11 in Kentucky. The event will showcase new electric vehicles and a dedicated EV platform as Ford intensifies its efforts to stay competitive in the evolving global market.
“This is a Model T moment for us at Ford, a chance to bring a new family of vehicles to the world that offer incredible technology, efficiency, space, and features,” Farley said.
The new EV strategy centers on a cost-efficient electric vehicle platform developed by Ford’s dedicated ‘skunkworks’ team. Engineered to support a range of models, the platform focuses on compact, affordable, and high-volume vehicle segments where Chinese automakers like BYD and Xiaomi have rapidly gained market share. The move marks a strategic realignment as Ford aims to compete more effectively in the global EV landscape.
The development follows reports that Ford incurred an $800 million loss in Q2 due to tariffs imposed by the Trump administration, while also preparing for the impact of EV tax credit rollbacks set for September.
Beyond some broad remarks about the efficiency of Ford’s upcoming EV platform, Farley didn’t offer many details about the electric models in development. However, earlier statements tied to Ford’s internal ‘skunkworks’ team provide a glimpse into what’s ahead. According to Bloomberg, the company’s new low-cost EV platform is expected to support three new models: a compact SUV, a small pickup, and potentially a vehicle designed for ride-hailing services, all targeting a launch around 2026 with starting prices near $25,000.
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