Ford plans to invest billions in new electric vehicle production, calling it the company’s “next Model T moment.”

Ford plans to invest billions in new electric vehicle production, calling it the company’s “next Model T moment.”

The Detroit automaker plans to produce a midsize, four-door electric pickup at the Louisville Assembly Plant, slated for 2027.

Ford announced Monday it will invest $2 billion and secure nearly 2,200 jobs in a Louisville, Ky., assembly plant that will build affordable electric vehicles.

Ford announced plans for a $30,000 electric pickup and a new manufacturing process to cut costs across EV models.