With the federal government’s $7,500 tax credit for electric vehicle buyers now dead, many automakers are digging into their own coffers for big discounts to keep EV inventory moving. Hyundai Motor Co., for instance, has kicked in a $7,500 cash incentive on the 2025 Ioniq 5 this month and cut the small crossover’s sticker price by up to $9,800 for 2026. General Motors and Ford Motor Co. thought they had found a way to help customers benefit from the tax credit for several more months. But they abruptly ba ...

Core Insights - Ford is preparing to unveil details about its low-cost electric vehicles, with CEO Jim Farley describing the announcement as a "Model T moment" for the company [1] - The electric vehicle division of Ford reported a loss of approximately $1.3 billion in Q2 2025, with declining sales for its top EV models, the F-150 Lightning and Mustang Mach-E [2] - Ford's initiative for a low-cost electric vehicle is being led by former Tesla executive Alan Clarke, with a team composed of talent from various leading companies in the EV sector [3] Product Development - The first vehicle on the new low-cost platform is a mid-size pickup truck expected to launch in 2027, with plans for multiple vehicle styles aimed at both retail and commercial customers [4] - Ford has indicated that these vehicles will offer "personalized digital experiences," although specific details remain undisclosed [4] Market Context - Currently, there are virtually no mass-market electric vehicles available in the U.S. priced at or below $30,000, but this is expected to change with the introduction of Ford's low-cost EVs in the coming years [5] - Competitors like Tesla and General Motors are also planning to release more affordable electric models, with Tesla set to launch a stripped-down Model Y SUV and GM reintroducing the Chevy Bolt [5]