Ford CEO Jim Farley said during an earnings call this week that the company will have important news to share in mid-August regarding electric vehicles.
A Model T moment?
And it won’t be just any old announcement, to hear the executive say it. He promised August 11 will be significant on a level with the day the Model T launched in fall 1908. He added that what Ford is readying to announce will allow the company to position itself competitively against Chinese rivals.
“On Aug. 11, that will be a big day for all of us at Ford. We will be in Kentucky to share more about our plans to design and build a breakthrough electric vehicle and a platform in the U.S. This is a Model-T moment for us at Ford. A chance to bring a new family of vehicles to the world that offer incredible technology, efficiency, space, and features.”
- Ford CEO Jim Farley
We know that during a recent trip to China, Jim Farley expressed how impressed he was by what he saw there regarding China's advancements in electric vehicles. He even stated that if nothing was done on this side of the planet, the battle was practically lost. Jim Farley even confirmed that he daily drove a Xiaomi SU7 and loved it.
Evidently, the company has been busy behind the scenes since then.
Ford will also detail its overall electric vehicle strategy, including the arrival of a new platform, during its announcement. Recall that last year, a small, autonomous work team, somewhat isolated from the traditional hierarchical structure, was tasked with developing a new electric vehicle platform, one able to accommodate multiple models and which can be produced in high volume.
Ford isn’t saying what type of structure is in the works now, but it confirms the new platform will be designed for smaller, cheaper-to-produce vehicles, while also being profitable for the company.
If Ford succeeds in bringing small, affordable electric vehicles to market while making a profit, then indeed, we can speak of a second Model T for the company. We'll have to wait and see what's presented on August 11.