Ford’s first ultra-cheap EV is called Fathom, a full-featured truck for $28,350

For nearly a year now, Ford has been teasing big things at low prices from its next generation of EVs, a “Model T moment” built atop a new platform assembled in an innovative way. Today, we know the name and price of the first product to take advantage of that supposed moment: a midsize electric truck called Fathom that starts at just $28,350.

That’s not exactly great news for fans of the Slate Truck, the new electric upstart that’s leaning hard into its feature-free nature by painting itself as the ultimate DIY machine. Paint, though, is among the long line of modern niceties omitted to help the Slate Truck reach its starting price of $24,950.

That first Slate also famously lacks things like power windows, a touchscreen, or even a basic stereo system. Ford’s Fathom, on the other hand, will be a fully featured vehicle, including integrated Apple Maps running on what’s called a “large, high-resolution touch screen.“

And, yes, both Android Auto and Apple CarPlay will be supported.

Where the Slate seats two by default (an optional, $5,000 SUV kit expands that to five), the base Fathom aims to have greater interior volume than a Toyota RAV4. It’ll have an open bed out back and a frunk, too.

The base Fathom will also include all the sensors needed to power Ford’s hands-free Blue Cruise system, though actually using that service will almost definitely come at extra cost. For reference, Blue Cruise currently costs an additional $2,495 as a one-time purchase, or $495 annually.

How will Ford bring all these relative luxuries to a truck that costs just $3,400 more than the Slate? They’re taking the same approach as your friendly local furniture liquidator: volume, volume, volume.

Cars, trucks, and SUVs built on Ford’s Universal Electric Vehicle (UEV) platform will come together in a new way, with the vehicle effectively split into multiple, parallel assembly lines. The front, rear, and middle of the vehicle can all be assembled in parallel, then effectively stuck together at the end before being shipped off to your local dealer with a blue oval out front.

Additionally, the construction of the vehicles themselves will be simplified, reducing both component and labor costs.

High-volume manufacturing plus streamlined assembly will be key to Ford making the Fathom’s suggested retail price viable. However, it was never production capacity that slowed down Ford’s EV aspirations in the past. Lack of interest from buyers and dealers have stymied the company’s prior battery-powered efforts, resulting in billions in losses and the cancellation of the F-150 Lightning.

Will a new focus and lower price mean more success? The Fathom’s starting cost is close to half that of the Lightning, a factor that surely has to help.

Ford says the Fathom will enter production at the company’s updated Louisville Assembly Plant next year, with deliveries happening before the end of 2027. Pre-orders open early next year. The Slate Truck, meanwhile, hits the streets later this year, giving it a roughly 12-month head start in what hopefully won’t be a four-wheeled race to the bottom.