Ford Teases a 'Model T Moment' for New EV Vehicle

It's about as big a boast as Ford can make: "This is a Model T moment for us," CEO Jim Farley told reporters on an earnings call this week, referring to an upcoming announcement on electric vehicles, reports Inside EVs. Farley said the automaker will unveil plans on August 11 for a "breakthrough" EV and a new platform aimed at resetting the rules for affordable electric cars. The Model T, of course, changed the auto industry in the early 1900s through the mass producing of cars that made them accessible to millions.

No details yet on prices or models, but the Verge reports the new platform is initially intended to underpin a pickup to be sold in 2027. However, the platform is expected to be adaptable to other types of vehicles. The timing is critical for the auto industry. Tesla recently posted its sharpest revenue slide in years and is scrambling to boost sales with new deals and a no-frills Model Y. And Ford also reported a $1.3 billion loss in its own EV division. Meanwhile, the Trump administration plans to roll back EV tax credits in September.