Ford said it will launch a price-accessible, all-electric vehicle to compete with Tesla's Model 3 and Model Y.

InsideEV reported on Tuesday that Ford CEO Jim Farley (짐 팔리) said in a recent podcast appearance that the company will bring out a low-cost, fully electric vehicle to compete with the Model Y and Model 3, directly referring to plans for an entry-level EV.

Farley also stressed that Ford is not going all-in on a single approach. He said Ford will do hybrids, EREVs and entry-level EVs. He added that the company is also pursuing a full hybrid lineup and some EREVs with strengths in towing.

The name, segment and launch timing of the new electric model have not been disclosed. The outlet pointed to the possibility that the entry-level EVs could be based on Ford's Universal Electric Vehicle platform. Ford is developing a dedicated EV platform and is expected to unveil a mid-sized electric pickup truck priced at about $30,000 next year as the first model to use it. The outlet said Ford would not put that much effort into using the platform for just one vehicle, and reported that the Model 3 and Model Y rival mentioned by Farley is also likely to share the same architecture.

It is unclear whether Ford is preparing 2 models to take on Tesla, or whether it will respond broadly with 1 model. The outlet noted that it is already known the UEV platform can accommodate multiple body types. In a past interview, Farley was asked about applying the UEV platform to a specific model such as the Mustang Mach-E and said he had many thoughts about the idea but was not ready to talk about it yet.

On the powertrain side, adoption of LFP batteries is being discussed. Since Ford chose LFP for the planned mid-sized electric pickup, observers say the same battery chemistry is likely for a future entry-level EV lineup. LFP is generally lower in cost and more durable than lithium-ion batteries with higher nickel content, and has the advantage of a relatively lower risk of degradation even when frequently charged to 100 percent. Energy density is lower, which could constrain range design under the same conditions.

Behind the remarks is a broader trend in the auto industry of slowing the pace of electric vehicles. After policy changes under the Trump administration, several companies including Ford and Tesla scaled back some EV ambitions, and losses of several billion dollars were incurred in the process.

Ford has also been adjusting its EV plans. The F-150 Lightning was cancelled as sales did not spread as expected, and plans for a next-generation large electric pickup and a second-generation electric Transit van were also halted.