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Ford is investing $5 billion in electric vehicle production, creating approximately 4,000 jobs in Louisville and Michigan.

The Louisville Assembly Plant will produce a new affordable midsize electric pickup truck, starting around $30,000, using Ford's new Universal EV Platform.

While the Louisville plant expansion will initially employ fewer workers than currently, Ford anticipates future growth and no layoffs, with some workers potentially taking buyouts or transferring.

Ford's new "assembly tree" production system aims to increase production speed by up to 40% compared to current models.

This story has been updated with additional information.

Ford Motor Co. continues to make big bets on an electric vehicle future.

The automaker plans to invest $5 billion and

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