Ford Motor Company has announced the launch of the Fathom, a budget-friendly electric pickup truck designed to help the automaker return to profitability, as reported by CNBC.
This mid-size electric truck will start at a price of $28,350. When including delivery and handling fees of $1,595, the total price reaches $29,945, successfully meeting Ford’s goal of introducing an electric model under the $30,000 threshold.
The Fathom will be manufactured at the Louisville Assembly Plant in Kentucky, utilizing a new production process developed by Ford.
Customers will be able to place pre-orders starting in early 2027, with initial deliveries expected in the latter half of the same year. While the design of the new model has not yet been revealed, Ford has shared some testing images.
The Fathom represents the debut of Ford’s new Universal Electric Vehicle (UEV) platform, which is crucial for the company’s electric vehicle division to regain profitability by 2029.
Ford aims for every vehicle based on the UEV platform to be profitable within a year of its launch. Additionally, these vehicles must remain competitive in pricing against Tesla and Chinese manufacturers.
The launch comes amid a declining adoption rate for electric vehicles and the recent removal of consumer incentives for purchasing these cars in the U.S. Last year, Ford reported $19.5 billion in restructuring costs related specifically to its electric vehicle sector.
