Ford is preparing a major electric vehicle announcement that CEO Jim Farley calls a “Model T moment,” as reported earlier by InsideEVs. During an earnings call on Wednesday, Farley said the company will reveal plans to design and build a “breakthrough” EV, along with a new platform, at an August 11th event in Kentucky.
Even as Ford’s EV business took a $1.3 billion hit, the automaker’s “skunkworks” team, helmed by former Tesla engineer Alan Clarke, has been working in the background to develop a more affordable electric car. “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.
Farley says Ford is working to compete with the low-cost EVs made by Chinese automakers, like Geely and BYD. “We believe the only way to really compete effectively with the Chinese over the globe on EVs is to go and really push ourselves to radically reengineer and transform our engineering supply chain and manufacturing process,” Farley said. “That will come to life soon.”
