Ford announces changes to their electric vehicle plans
(NBC, KYMA/KECY) - The Ford Motor Company has announced a shift in its electric vehicle (EV) plan to adjust to a slower-than-expected EV growth.
The carmaker is killing a planned three-row SUV, and delaying its next-generation pickup while adding a new pickup model and van to its future lineup.
The slowdown in demand for EVs has caused automakers such as Ford, General Motors and others to delay or cancel plans to avoid spending heavily on vehicles that consumers are not buying as quickly as anticipated.
However, Ford says it still plans to offer a mid-sized electric pickup to be released in 2027, and an electric commercial van in 2026, that are touted as being more affordable.
The long-awaited successor to Ford's F-150 lightning electric truck has been delayed until at least the second half of 2027.
After these announcements on Wednesday, Ford shares rose 1.4% in early trading.
While Ford is shelving plans for an electric three-row SUV, it is moving toward hybrid vehicles in that segment, hoping to woo customers with longer-range vehicles for road trips.
