Ford Delays New EVs in Favor of Hybrids Amid Broader US Market Challenges

Published on August 21, 2024

Ford Motor Co. has announced significant changes to its electric vehicle (EV) strategy, canceling plans for a fully electric three-row SUV and delaying production of its next-generation electric pickup truck as it focuses more on hybrids due to growing pricing pressure from high battery costs and inflation-weary consumers. The changes, announced by Ford on Aug. 21, reflect broader challenges facing the U.S. auto industry, as automakers grapple with rising production costs, slower-than-expected EV demand, increasingly cost-conscious consumers, rising compliance requirements, and tougher competition as a bevy of new EVs hit the market over the next 12 months. Ford said that as part of the strategic shift, it will prioritize the development of hybrid electric vehicles and electric commercial vehicles, such as a new electric commercial van expected to start production in 2026 in Ohio....

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