Ford Motor Company will invest nearly $2 billion to convert a longtime auto manufacturing plant in Louisville to build electric vehicles from a new platform adaptable to multiple vehicle types, aiming to launch a mid-sized EV pickup truck by 2027.

The $2B Ford investment promises to create a new Universal EV Platform for assembly, bring a new four-door midsize truck EV to Louisville.

Ford says it will invest nearly $2 billion to retool a Kentucky plant to produce electric vehicles. The automaker says the goal is to produce EVs that are more affordable, profitable to make and outcompete rival models.