By Nora Eckert
DETROIT (Reuters) -Ford Motor is reshuffling its electrical automobile plans, killing its three-row SUV and delaying its next-generation pickup whereas including a brand new pickup and van to its future lineup because it adjusts to slower-than-expected EV progress.
The automaker will take a particular non-cash cost of about $400 million for the write-down of sure property for the beforehand deliberate three-row SUVs, which can additionally lead to extra bills and money expenditures of as much as $1.5 billion.
The slowdown in demand for EVs has precipitated automakers reminiscent of Ford, Basic Motors and others to delay or cancel plans to keep away from spending closely on automobiles that customers will not be shopping for as rapidly as anticipated.
Ford CEO Jim Farley has been touting the corporate’s staff in California which has been growing an structure for inexpensive EVs. The primary automobile on that new know-how shall be a mid-size electrical pickup launched in 2027, the corporate stated Wednesday.
“The work of this extremely gifted staff has advanced right into a crucial enabler of our electrical automobile technique. These electrical automobiles shall be decrease price, and never compromised in any manner,” Farley stated in a press release.
Ford shares rose 1.4% in premarket buying and selling.
The automaker will roll out an electrical industrial van at its Ohio Meeting plant beginning in 2026, hoping to capitalize on its success within the gas-engine industrial automobile house.
In the meantime, the long-awaited successor to Ford’s F-150 Lightning electrical truck is once more delayed, now to the second half of 2027 from an initially deliberate 2025 launch, a transfer the corporate stated will enable it to reap the benefits of lower-cost battery know-how.
Whereas Ford is shelving plans to provide an electrical three-row SUV, it’s shifting to hybrid automobiles in that phase, aiming to woo prospects with longer-range automobiles for highway journeys.
(Reporting by Nora Eckert, Enhancing by Louise Heavens and Bernadette Baum)
