Ford is developing a new electric pickup truck with a target price of $30,000, aiming to compete in the growing EV market. CEO Jim Farley offered a peek at the technology going into the vehicle, including a focus on aerodynamics to maximize efficiency. The new model will be built on the Universal Electric Vehicle platform, with production set for Louisville, Kentucky.

This initiative comes as Ford shifts its EV strategy, even as it discontinues the F-150 Lightning. The company is investing heavily, including $5 billion in its Louisville factory and battery plant. The design emphasizes functionality, with more interior space than a Toyota RAV4 and features like secure bike and surfboard storage in the truck bed.

Farley highlighted the use of simplified aluminum unicastings to streamline production. The new truck promises a 0 to 60 mph time similar to a Mustang EcoBoost, around 4.5 seconds. Ford's move reflects broader industry trends towards affordable and efficient EVs, targeting consumers with practical, cost-effective options.

While the truck's name and full design remain under wraps, it's clear Ford is prioritizing both performance and practicality. With the Universal EV platform, Ford aims to create a family of global, affordable EVs. The market will be watching the final specs and release date closely as the company attempts to capture a segment of the EV market.