Ford cancels its planned electric SUV and delays its electric pickup truck, reflecting a broader industry trend of automakers scaling back EV investments due to cost pressures, competition, and weaker-than-expected consumer demand.
The trend of legacy automakers ditching their plans and investments in EVs continues, with Ford reportedly the latest to cancel plans for a large three-row electric sport-utility vehicle, according to a new report from the Wall Street Journal. The company will take $1.9 billion in related special charges and write-downs as a result, the report said.
The company expects to lose $5 billion on its EV business this year, with a loss of about $44,000 per vehicle in the second quarter. Executives are focused on reducing losses and ensuring future EVs are profitable. Despite recalibrating plans to include more hybrids, Ford is still moving forward with several full EVs, including an electric commercial van in 2026 and two new pickup trucks in 2027, according to the report.
Electric Vehicles Evs Hybrids Automotive Industry Market Trends Consumer Demand Charging Infrastructure Cost Pressures Competition
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Report claims that OpenAI has burned through $8.5 billion on AI training and staffing, and could be on track to make a $5 billion lossNick, gaming, and computers all first met in 1981, with the love affair starting on a Sinclair ZX81 in kit form and a book on ZX Basic. He ended up becoming a physics and IT teacher, but by the late 1990s decided it was time to cut his teeth writing for a long defunct UK tech site.
Read more »
Hollyoaks star Gregory Finnegan adds fuel to exit rumours as he reveals secret side project...Hollyoaks star sparks rumours he’s QUIT ailing soap as fans spot concerning ‘clue
Read more »
Strictly’s Tasha Ghouri sparks rumours she’s MARRIED her Love Island boyfriend Andrew Le Page...Strictly’s Tasha Ghouri sparks rumours she’s MARRIED her Love Island boyfriend Andrew Le Page
Read more »
I got engaged to a stranger I met online after a five day long date – it’s quick but when you know you kno...Man’s Bizarre Proposal Tattoo Sparks Outrage Online
Read more »
– Hockey player sparks mass brawl with ‘unnecessary’ gesture after Olympics final...Hockey player sparks mass brawl with 'unnecessary' gesture after Olympics final between Germany and the Netherlands
Read more »
Brits in Majorca, Portugal and Malaga warned 'only go out after 8pm'Soaring temperatures across Europe sparks warning
Read more »