Ford has decided to move away from electric vehicles and pivot towards hybrids and gas-powered vehicles for the foreseeable future.
This means the long-promised three-row electric SUV has been cancelled, and the next electric truck has been pushed back to 2027 at the earliest, according to a report from The Verge.
Ford is cutting its EV spending down to 30 percent from 40 percent of its funds, but The Verge reports that the company is looking at a loss of around $1.5 billion for its work on the now-cancelled three-row EV.
The automaker is limiting its EV sales by ensuring that it can forecast profitability within the first year. That said, it’s still developing an EV version of its commercial van, which is slated to begin production in 2026.
Beyond that, there are rumours of a mid-sized EV truck and a successor to the F-150 Lightning in the pipeline, but it’s unclear if those are still being worked on or if the company will slow down production on anything EV-related.
Source: The Verge
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