Core Viewpoint - Ford plans to launch a new all-electric pickup truck by 2027, utilizing low-cost lithium iron phosphate (LFP) batteries with a target price of $30,000, marking the first use of LFP batteries by an American automaker [1][5]. Investment and Production Plans - Ford announced a total investment of $5 billion in its Louisville assembly plant and Michigan battery factory, which will create 4,000 jobs, including $2 billion specifically for the Louisville plant [3]. - The new electric vehicle (EV) will feature a newly developed chassis aimed at cost reduction, with a sales target of $30,000, although specific sales timelines and regions have not been disclosed [3][5]. Battery Technology and Cost Efficiency - The highlight of the investment is the low-cost LFP battery, which will be produced in Michigan with support from China's CATL technology. LFP batteries are approximately 30% cheaper than nickel-cobalt-manganese (NCM) batteries, giving Chinese manufacturers a competitive edge [5]. - The design and production methods of the vehicles will change, reducing the number of components by 20% and shortening assembly time by 15% [5]. Strategic Shift and Market Position - Ford's previous focus on large vehicles for EV development has led to significant losses in the EV business, prompting a strategic shift to develop affordable EVs in California [7]. - CEO Jim Farley compared the new EV initiative to the Model T, emphasizing it as a fundamental reform since the introduction of the iconic vehicle [7]. - Chinese companies like BYD have already achieved EVs priced below $30,000, highlighting the competitive gap between American and Chinese manufacturers [7].