Ford Motor, opens new tab said on Thursday it had delayed the planned launches of three-row EVs in Canada and its next-generation electric pickup truck built in Tennessee as the slowdown in EV demand globally forces automakers to revise production plans.
Ford said separately it was boosting hybrid electric vehicle offerings and by 2030 expects to offer hybrid powertrains across its lineup of gas-powered vehicles.
"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 CEO Jim Farley said.
Ford, which lost nearly $4.7 billion on its EV business in 2023 and projected it will lose $5 billion to $5.5 billion this year, said in February the next generation of EVs will be launched "only when they can be profitable."
Read Article