Ford's Model T was one of the primary catalysts that sparked the automotive industry — and the automaker's current CEO, Jim Farley, seems to be hoping to channel some of that energy 100 years later, as Farley says the Blue Oval's next electric vehicle will be the brand's modern "Model T moment."

Ford to unveil a new U.S.-built, low-cost EV on August 11, marking a major shift in its electric vehicle strategy and product lineup.

Farley says Ford is working to compete with the low-cost EVs made by Chinese automakers, like Geely and BYD. “We believe the only way to really compete effectively with the Chin