CEO Jim Farley, as well as other auto executives and Kentucky leaders, introduced the new Ford Universal EV Production System and Ford Universal EV Platform at the Ford Louisville Assembly Plant (LAP) on Monday so they can prepare for the next generation of electric vehicles.

LOUISVILLE, Ky. (AP) — Ford Motor Co. will invest nearly $2 billion retooling a Kentucky factory to produce electric vehicles that it says will be more affordable, more profitable to build, and will outcompete rival models.

Ford says it will invest nearly $2 billion to retool a Kentucky plant to produce electric vehicles LOUISVILLE, Ky. — Ford Motor Co. will invest nearly $2 billion retooling a Kentucky factory to produce electric vehicles that it says will be more affordable,