Ford will retool its Louisville Assembly plant beginning later this year to produce vehicles from a new Universal EV Platform starting with a midsize truck for $30,000

Ford announced that it will retool its Louisville Assembly plant in Kentucky to focus on electric trucks. Their goal: To bring down prices for US buyers and compete with Chinese EV makers on the global market.

Despite the impending loss of federal rebates, Ford plans to give US EV production a huge boost. After hyping it last week as a "breakthrough" and "Model T moment," the company has announced a new Universal EV Platform to be shared by a new family of products.