Ford to shift focus on hybrids, delays new EV production

Ford ranked second in EV sales, behind Tesla in the first quarter of this year.

According to media reports, Ford Motor will delay the production of its all-electric SUVs & pickup trucks and shift focus on offering hybrid options across its entire range by 2030.

The move comes amidst a slower-than-expected adoption of EVs seen across the entire automotive industry. The American carmaker commented that while it will continue to invest in EVs, it is postponing the production of its three-row SUV from 2025 to 2027. Similarly, the production of the next-gen electric pickup, codenamed 'T3' has been pushed from 2025 to 2026.

Ford ranked second in EV sales, behind Tesla in the first quarter of this year. However, in terms of overall company sales, Ford was in third position being outsold by Tesla and the Hyundai Group (Hyundai, Kia & Genesis).

Jim Farley, CEO, Ford, stated, "As the No. 2 EV brand in the U.S. for the past two years, we are committed to scaling a profitable EV business, using capital wisely and bringing to market the right gas, hybrid and fully electric vehicles at the right time."

Ford also released a statement, "The additional time will allow for the consumer market for three-row EVs to further develop and enable Ford to take advantage of emerging battery technology, with the goal to provide customers increased durability and better value." Farley added, "Our breakthrough, next-generation EVs will be new from the ground up and fully software enabled, with ever-improving digital experiences and a multitude of potential services."

Source: CNBC