Ford’s next-generation electric truck will be called Fathom, and it will start at $28,350 when it goes on sale in 2027, the company said on Thursday.

A “destination and delivery” fee will bring that price up to $29,945, putting the Fathom just below the $30,000 mark that Ford has targeted since it first started talking more openly about the project in 2025.

The truck, when it arrives next year, represents a major bet for Ford. It’s the automaker’s second all-electric truck after the F-150 Lightning (third, if you count the limited-run Ranger EV from the late 1990s). But like many of its peers, the company has dramatically pulled back on its once-ambitious plans to build electric vehicles.

The Fathom is the first vehicle Ford is building on its new “Universal EV Platform,” or UEV, which will power a number of different EVs and involves a brand-new assembly line process meant to cut costs. It’s an attempt by CEO Jim Farley to try and catch up to category leader Tesla, as well as the many Chinese EVs that he’s argued against allowing into the U.S. market — all while building the truck in Louisville, Kentucky.

Deliveries begin in “fall 2027,” and Ford said on Thursday that it won’t reveal the truck until “early 2027,” which is when it will start taking pre-orders.