Ford Motor is delaying making a big electric SUV and truck. Instead, they’re focusing on adding hybrid options to all their cars in North America by 2030.
They’re postponing making a large SUV in Canada until 2027 and the new pickup truck until 2026.
This change shows how Ford and other car companies are adapting to the slow growth of electric cars. Making electric cars costs a lot, and people aren’t buying them as quickly as expected.
Last year, Ford decided not to spend $12 billion on new electric cars because it wasn’t making enough money. It’s not clear if these delays were part of that decision.
Ford’s CEO, Jim Farley, says they want to make electric cars that make money and are useful for customers.
The SUV was part of a plan to change a factory in Canada to make electric cars. Now, Ford wants to wait for better technology and more people wanting big electric cars.
Ford is still planning to make electric cars in new places like Tennessee.
They’re building new factories for batteries in Michigan, Tennessee, and Kentucky.
At the beginning of 2024, Ford sold more electric and hybrid cars than before. But they’re still losing money on their electric car business.
Ford expects to lose more money on electric cars in 2024.
