Ford is delaying the next-generation F-150 Lightning and E-Transit until 2028 while rethinking its massive Blue Oval City plant and shifting focus toward more affordable EVs.

Bill Ford has said missteps in the switch to electric vehicles are because regulators have pushed for EVs before enough customers were ready.

A sleek new Universal EV platform promises affordable, efficient electric pickups. Ford’s bet on streamlined manufacturing to deliver both value and profit.

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 will invest $5 billion, including $2 billion at its Louisville, Kentucky factory on top of $3 billion already announced for its BlueOval battery plant. It will expand the Louisville facility by 52,000 square feet and "create or secure" nearly 4,000 direct jobs, Ford added.