Ford plans to start rolling out its new family of affordable electric vehicles in 2027, including a midsize pickup truck with a target starting price of $30,000, the company said on Monday, as it aspires to the cost efficiency of Chinese rivals .

The new midsize four-door pickup will be assembled at the automaker’s Louisville, Ky., plant. Ford is investing nearly $2 billion in the plant, which produces the Escape and Lincoln Corsair, retaining at least 2,200 jobs, it said in a statement.

Chinese carmakers such as BYD have streamlined their supply chain and production system to produce EVs at a fraction of the cost of Western automakers. While these vehicles have yet to enter the US market, Ford CEO Jim Farley said they set a new standard that companies like Ford must match. 4

“We

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