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Ford Motor Co. is pumping the brakes on the production of two forthcoming electric vehicle models as demand for EVs continues to wane.
In a manufacturing update Thursday, Ford announced that it is pushing back the production launch of its planned three-row electric SUV at its assembly plant in Oakville, Ontario, from 2025 to 2027.
The automaker said the two-year delay of its new SUV rollout “will allow for the consumer market for three-row EVs to further develop and enable Ford to take advantage of emerging battery technology.”
Ford has revised its timeline, anticipating that customer deliveries of the brand-new electric pickup truck, to be manufactured at its Tennessee plant, will commence in 2026. The company plans to “gradually ramp up production to ensure quality,” a departure from its previous announcement last year, which indicated production would start in late 2025. Ford incurred approximately $4.7 billion in losses on EVs last year and anticipates losses ranging from $5 billion to $5.5 billion for the current year.
Ford has announced they are DELAYING the release of several electric vehicle and will instead shift focus to hybrids.
This comes after both Audi and Mercedes have done U-turns and delayed their EV goals.
Would you buy an electric car?
— PeterSweden (@PeterSweden7) April 4, 2024
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