Ford's chief executive has announced the company will unveil what he describes as a "Model T moment" for the automotive giant later this month.

Jim Farley revealed during a Wednesday earnings call that the presentation will showcase plans for a revolutionary electric vehicle alongside an entirely new platform at an event in Kentucky on Monday, August 11.

The announcement represents a significant milestone for Ford as it seeks to transform its electric vehicle strategy.

Behind the scenes, a specialised team has been quietly developing more accessible electric vehicles under the leadership of Alan Clarke, a former Tesla engineer.

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The CEO of Ford has made a lofty promise about the future of the brand's electric cars

This "skunkworks" unit has been operating whilst Ford's electric vehicle division sustained losses of almost £1billion.

Speaking on a call, Farley said: "This is a Model T moment for us at Ford, a chance to bring a new family of vehicles to the world that offer incredible technology, efficiency, space, and features."

The company disclosed last year that its new cost-effective electric vehicle architecture would initially support a pickup truck scheduled for launch in 2027.

This platform is expected to expand to additional models in subsequent years, The Verge reported.

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The timing of Ford's forthcoming reveal coincides with significant challenges facing the electric vehicle sector, as manufacturers grapple with shifting market dynamics and policy changes.

The broader electric vehicle market faces mounting pressures that underscore the significance of Ford's upcoming announcement.

Tesla recently reported its steepest revenue decline in years, prompting the company to introduce various incentive schemes to boost flagging sales and announce a basic version of its Model Y.

President Donald Trump's tariffs have severely affected car manufacturers, with Ford projecting the duties will reduce its yearly profits by approximately £1.6 billion.

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Ford's leadership has identified Chinese manufacturers as the primary competitive threat in the global electric vehicle market.

Farley specifically highlighted companies such as Geely and BYD as key rivals the American automaker must counter.

He said: "We believe the only way to really compete effectively with the Chinese over the globe on EVs is to go and really push ourselves to radically reengineer and transform our engineering supply chain and manufacturing process."

The chief executive promised that these comprehensive changes would materialise in the near future, stating: "That will come to life soon."

FORD | Ford has a number of electric vehicles on the market

This follows Labour's announcement of a £1billion loan through UK Export Finance (UKEF) to support the car giant's long-term growth ambitions around the world.

Chancellor Rachel Reeves said: "Ford has been the pride of Essex since 1911, over a century of innovation and industry. The R&D centre in Basildon employs thousands of people in well-paid, highly skilled jobs.

"This £1billion loan guarantee is a major boost for Britain’s auto sector. It will help develop world-leading products, open new export markets, and secure jobs."

Ford has accelerated its electric vehicle plans, including a massive £380million transformation of the Halewood manufacturing plant, near Liverpool, where it makes electric motors.