Transportation

Ford Boosts EV Investment Plans With Focus on Budget Models

An electric Ford vehicle charging in front of Ford Motor Co. dealership.
Photographer: Alex Kraus/Bloomberg

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By Keith Naughton

August 11, 2025 at 10:30 AM EDT

Updated on

August 11, 2025 at 2:39 PM EDT

Ford Motor Co. unveiled plans for a new line of budget electric vehicles in a $5 billion bid to achieve the mass appeal that has so far eluded its money-losing EV business.

The automaker’s new “universal EV platform” represents its first battery-powered models fully designed from the ground up, after early efforts such as the F-150 Lightning plug-in pickup failed to meet lofty sales expectations.