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 Motor Company will invest nearly $2 billion to convert a longtime auto manufacturing plant in Louisville to build electric vehicles from a new platform adaptable to multiple vehicle types, aiming to launch a mid-sized EV pickup truck by 2027.