Farley called the investment the company's "most radical change" since the Model T, which revolutionized the industry and made Ford the foundation of Detroit's Big 3. He said a reimagined assembly tree branched assembly line, which will start with the midsize truck, will help the legacy automaker out-innovate its competitors.

Ford's first midsize, four-door electric pickup will be built at the Louisville Assembly Plant and available to customers starting in 2027, Jim Farley said.