Ford Ranchero The Ranchero name has been used before to represent a small utility vehicle from Ford. The upcoming Ranchero, assuming it keeps that name, would be the spiritual successor to that product.

Ford unveiled a new assembly line on Monday, which CEO Jim Farley called the most radical change at Ford "since the Model T."

Ford said its combined investment of about $5 billion at the Kentucky assembly plant and Michigan battery plant is expected to create or secure nearly 4,000 direct jobs between the two plants while strengthening the domestic supply chain with dozens of new U.S.-based suppliers.