Ford has revealed plans to compete with China in the electric vehicle sector, with CEO Jim Farley stating that the company has been working in secret for three years to develop a new model of the hybrid vehicle. The company will reveal five different types of vehicles in the coming years, with prices starting at $30,000 per vehicle. This move represents a significant shift from its previous model, which saw a $5 billion loss in 2024. The Ford Universal EV Platform will allow the company to use fewer parts during production, making its lineup cheaper.