Ford Invests $2 Billion in Kentucky Plant for Affordable Electric Pickup

"...Ford is making a multibillion-dollar bet on electric vehicles...."

"...This isn't the first time Ford has bet big on EVs...."

"...At Monday's event, Ford executives didn't make the case that the future is clean or green or eco-conscious...."

"...Chinese automakers have cracked this code, and Western automakers are painfully aware of the need to catch up...."

"...It's still aspirational...."

"...But after canceling its large electric SUV and just recently delaying a next-generation of electric full-size trucks and vans, Ford held this splashy event in Louisville to make it clear it was moving forward — really — with this project...."

"...Political headwinds, global realities..."

"...It might seem like a strange time for a company to boast about a major EV project...."

"...But Farley has been clear for years now that having competitively-priced EVs is an existential priority for Ford — and for other automakers...."

"...Is it possible?..."

"...Farley used the word "bet" intentionally, making it clear there is no guarantee of success...."

"...And, at risk of understatement, companies don't always make their initial price targets; the F-150 Lightning and the Cybertruck were both first promised to start at $40,000, a price they never actually hit...."

"...The vehicle itself is still rather mysterious...."

"...And while he made promises about high-tech features and the future, executives also told workers in the plant they could look forward to a more mundane benefit from the $2 billion investment: When the plant reopens next year, Ford VP Bryce Currie told the assembled workers, it would have tempered air — and a much cooler temperature...."