Ford CEO Farley Says Ford Is Betting The Company On A $30,000 EV Launching In 2027

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Ford has tapped the brakes on the launch of a sleek “personal bullet train” electric SUV that’s been delayed a year from 2026 to 2027, but it will be pulling something else into the station when it arrives.

Ford CEO Jim Farley recently revealed that the company has a “skunkworks” operation working on a low-cost SUV and this week told the Aspen Ideas Festival that the first vehicle should be on the road within two-and-a-half years.

“And we’re shooting for a $30,000 car,” Farley said.

He didn’t reveal any details about the vehicle, but said weight reduction and aerodynamics are key elements to keeping the battery small and the price down.

Farly also said that the project, which is run by former Tesla executive Alan Clarke, is so separated that he can’t swipe his own ID badge to get into its headquarters in Southern California.

“We’re going to be the company on them, that’s a very American thing,” Farley said.

Ford’s price point is a little higher than some other low cost EVs in the works, including a recently announced $25,000 Jeep Renegade.

Tesla had been aiming to deliver a car at that price. It originally planned to build first at a new factory in Mexico, but has shifted from developing an all-new platform to designing a more affordable model based on its current Model 3/Y architecture that will be revealed later this year and built in Texas. Since the change, Tesla has no longer discussed the exact target price.

General Motors will also be launching a second generation Chevrolet Bolt in 2025 that will be built in Kansas. Exact pricing hasn’t been confirmed, but it will slot into the lineup below the $34,995 Chevrolet Equinox EV.

The last generation Bolt that went out of production in 2023 had a starting price of $27,500 at the time it was discontinued.