In what CEO Jim Farley called a 'Model T moment,' the company that popularized assembly lines is turning in a new direction for electric vehicles.

Ford said its combined investment of about $5 billion at the Kentucky assembly plant and Michigan battery plant is expected to create or secure nearly 4,000 direct jobs between the two plants while strengthening the domestic supply chain with dozens of new U.S.-based suppliers.

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.