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.

Ford unveiled a new assembly line on Monday, which CEO Jim Farley called the most radical change at Ford "since the Model T."

I’m always saying that if a gap in the market is obvious to one OEM, it’s obvious to all of them. Generally, if a manufacturer comes out with a segment-busting new model that sells like gangbusters, their rivals usually sit up and take notice.