Ford unveiled a new assembly line on Monday, which CEO Jim Farley called the most radical change at Ford "since the Model T."

Ford plans to start rolling out its new family of affordable electric vehicles in 2027, including a midsize pickup truck with a target starting price of $30,000, the company said on Monday, as it aspires to the cost efficiency of Chinese rivals.

I’m always saying that if a gap in the market is obvious to one OEM, it’s obvious to all of them. Generally, if a manufacturer comes out with a segment-busting new model that sells like gangbusters, their rivals usually sit up and take notice.