With plans for a $30,000 electric pickup for American consumers and a $2 billion renovation of its Louisville, Kentucky, plant, Ford Motor is attempting to combat the growth of low-cost Chinese electric vehicles.

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