The Globe and Mail reports in its Tuesday, Aug. 12, edition that over the past 2-1/2 years, Ford's electric-vehicle division has lost $12-billion, including $2.2-billion in the first half of this year, with sales of electric models falling 12 per cent in the first six months (all figures U.S.). A New York Times dispatch to The Globe reports that in response, Ford announced a plan to develop new, lower-cost electric-vehicle components, enabling more affordable cars. The first model will be a medium-sized, four-door pickup truck, seating five and starting at $30,000, expected to arrive in 2027. A new large electric pickup has been delayed to 2028. Ford has developed a new manufacturing process that should also lower costs while improving quality. Chief executive officer Jim Farley says Ford has come up with a brand-new concept, saying, "This is the most radical redesign of how we manufacture cars since the Model T." Turning around Ford's electric-vehicle business and catching up to Chinese producers is a key task for Mr. Farley. He was named to the post in 2020, and promised a new era of growth and profitability for a company that struggled under two previous CEOs. NYT says Mr. Farley has made some progress.