A few weeks ago, Ford announced that it had created an internal skunkworks team to focus on affordable EVs and a new platform to underpin them. Bloomberg recently reported more deeply on the project, noting that The Blue Oval may be planning up to three new electric models on the new architecture, including a compact SUV and a small pickup truck.
Ford is also expected to build an EV for ridesharing services, and Bloomberg reported that Ford has fewer than 100 people working on the project. The first model is due in late 2026 with a starting price of around $25,000, though it’s unclear if Ford’s extensive losses on its EV business will have an impact.
The report also stated that Ford will use lithium-iron-phosphate battery cells to save money, an approach that it already uses for base Mustang Mach-Es and which Tesla takes with the cheapest Model 3.
Despite its losses, Ford is still pushing to earn the number one EV sales spot, which Tesla currently holds. All automakers in the U.S. are grappling with wavering EV demand and rising production costs. However, the threat of China flooding the market with cheap electric models is too frightening to ignore. Tesla also reportedly plans to (finally) get its affordable EV out the door in the next year or so.
Chinese vehicles already have a steep import tariff, and lawmakers have floated a popular plan to bump it to 125 percent. That said, Chinese EV manufacturers building vehicles in Mexico could get around that tariff, as goods produced south of the border don’t have financial penalties attached to them, thanks to the U.S.-Mexico-Canada free trade agreement.
[Image: Ford]
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