 "Ford to push back and reconsider EVs again because of slowdown, renew focus on hybrids")
Ford has announced that there might be some delays in the launch of its upcoming EV lineup yet again. The delayed EVS include some models which were slated to launch next year but now have been pushed back by years.
This includes its yet-unnamed three-row SUV, which was initially slated for release next year but has now been pushed back to 2027. Similarly, the next-generation electric pickup, codenamed “T3,” is facing a delay from late 2025 to 2026.
This vehicle is set to be manufactured at the Tennessee Electric Vehicle Center assembly plant as part of Ford’s BlueOval City complex, where stamping equipment for producing sheet metal is currently being installed.
In a statement that the company released, Ford said that they will take this opportunity to keep an eye out for emerging battery tech and see how it evolves. Ford has been significantly slow in responding to Elon Musk’s battery-powered cars, which have taken a significant chunk out of Ford’s hold over the American auto market.
In conjunction with these setbacks, Ford has announced that they will approach hybrid vehicles with renewed focus and that they intend to offer hybrid powertrains across its entire Ford Blue lineup by 2030.
Impact Shorts
More ShortsDespite these adjustments, Ford reaffirms its commitment to EVs and continues the construction of battery plants in Michigan, Tennessee, and Kentucky.
Although still extremely popular, the adoption of EVs has seen a slowdown of sorts all across the world. With China and Chinese EV makers currently dominating the market, more and more consumers are waking up to the idea of a hybrid vehicle instead of a fully electric one, years after many notable car makers pulled their hybrids out of the market.
However, challenges persist in the EV market, including high entry costs, inadequate charging infrastructure, and limitations on federal tax breaks for some EVs.
Despite experiencing an 11 per cent decline in EV sales in January, Ford reports an 86 per cent increase in sales throughout the first quarter of this year compared to last. Nevertheless, the company’s EV offerings recorded a $4.7 billion loss in 2023.
Jim Farley, Ford’s president and CEO, emphasized the company’s dedication to scaling a profitable EV business. Last year, Ford announced plans to defer or cancel $12 billion in electric vehicle spending.
It remains uncertain how these recent announcements will impact Ford’s objective of ramping up EV production to 600,000 units per year. However, the availability of Tesla Superchargers in the US and Canada may alleviate some concerns regarding charging infrastructure for customers.
(With inputs from agencies)
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