Ford Motor Co. will invest nearly $2 billion US retooling a Kentucky factory to produce electric vehicles (EV) that it says will be more affordable, more profitable to build, and will out compete rival models.

Ford promised their announcement of a new “universal” EV platform, along with a low-cost light pickup truck, would be another “Model T” moment in automaking history. Ford didn’t show us the truck, just teased various attributes,

Ford Motor Company will invest nearly $2 billion to convert a longtime auto manufacturing plant in Louisville to build electric vehicles from a new platform adaptable to multiple vehicle types, aiming to launch a mid-sized EV pickup truck by 2027.