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 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 automaker’s top executive unveiled the new EV strategy at Ford’s Louisville Assembly Plant which, after producing gas-powered vehicles for 70 years, will be converted to manufacture electric vehicles.