In what CEO Jim Farley called a 'Model T moment,' the company that popularized assembly lines is turning in a new direction for electric vehicles.

Ford is investing $5 billion to change the way it makes electric vehicles, a move the automaker says will allow it to manufacture models starting at $30,000 — far less than the current average price for an EV.

Ford plans to invest billions in new electric vehicle production, calling it the company’s “next Model T moment.”

Ford's $30,000 EV will ride on the Maverick's success, China's major success is SDVs and GM's Cruise is back (kind of).

Despite the impending loss of federal rebates, Ford plans to give US EV production a huge boost. After hyping it last week as a "breakthrough" and "Model T moment," the company has announced a new Universal EV Platform to be shared by a new family of products.

Ford just announced its new universal EV platform that is expected to rein in costs for the company’s money losing EV business. Chief among those cost savings will be a much, much smaller battery. Ford said the new battery will be 15 percent smaller than that of a BYD Atto electric crossover.