CEO Jim Farley, as well as other auto executives and Kentucky leaders, introduced the new Ford Universal EV Production System and Ford Universal EV Platform at the Ford Louisville Assembly Plant (LAP) on Monday so they can prepare for the next generation of electric vehicles.

LOUISVILLE, Ky. (AP) — Ford Motor Co. will invest nearly $2 billion retooling a Kentucky factory to produce electric vehicles that it says will be more affordable, more profitable to build, and will outcompete rival models.

Ford Motor Company will invest $2.00 billion in its Louisville, Kentucky, assembly plant to launch a new midsize, four-door electric pickup priced at $30,000. The project, expected to roll out in 2027,