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.

Ford Motor Co. in Dearborn is investing $2 billion in its Louisville Assembly Plant in Kentucky to produce its new Ford Universal EV Platform using the new Ford Universal EV Production System.

In what CEO Jim Farley called a 'Model T moment,' the company that popularized assembly lines is turning in a new direction for electric vehicles.