Ford has kept details under wraps regarding its upcoming lineup of electric vehicles. This is beginning to shift.

The automaker based in Detroit informed Business Insider that its upcoming electric vehicle, a midsize truck, will bear the name Fathom. It also disclosed a base price of $28,350 - or $29,945 including destination fees.

The name and cost mark a significant shift from Ford's prior electric vehicle initiatives. Its initial batch of EVs like the Mustang Mach-E and F-150 Lightning drew names from classic Ford models and carried prices from about $38,000 up to nearly $90,000.

Fathom represents a fresh name for Ford. The price under $30,000 positions this new EV close to the upcoming basic Slate truck.

Fathom stems from a special project initiated by the company in 2022 focused on creating more straightforward electric vehicles following substantial losses on its first EVs.

In contrast to the traditional assembly line used since the early 1900s, these next EVs will use an "assembly tree" method. The front, rear, and battery-interior sections will be assembled on separate lines before being combined.

Ford has shown various outlines indicating the production line might enable models like a hatchback, SUVs, and a cargo van, though specific production plans remain unconfirmed.

The Fathom boasts notable specifications according to Ford. It accelerates as quickly as the Mustang EcoBoost and offers interior cargo space equivalent to the Toyota RAV4 SUV.

This marks Ford's first vehicle featuring Apple software integration.

Many aspects of the truck remain unknown: its complete design is hidden under camouflage wraps, and details on trims or range are unavailable.

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