Ford is preparing a major electric vehicle announcement that CEO Jim Farley calls a “Model T moment,” as reported earlier by InsideEVs. During an earnings call on Wednesday, Farley said the company will reveal plans to design and build a “breakthrough” EV, along with a new platform, at an August 11th event in Kentucky.

Ford to unveil a new U.S.-built, low-cost EV on August 11, marking a major shift in its electric vehicle strategy and product lineup.