Ford Motor Co. Delays Production Launch of Electric SUV, Shifts Focus to Profitability
Ford Motor Co. has announced a delay in the production launch of its planned three-row electric SUV, pushing back the release from 2025 to 2027. The automaker cited waning demand for electric vehicles (EVs) as the reason for the postponement, as well as the need to ensure profitability in their EV lineup.
In addition to the delay in the SUV launch, Ford also revealed that customer deliveries of its all-new electric pickup truck will begin in 2026, later than previously projected. The company reported a loss of about $4.7 billion on EVs last year and anticipates further losses in 2022.
CEO Jim Farley has set a goal for Ford’s next generation of EVs to be profitable within 12 months of launch. To achieve this, the company is focusing on making larger EVs profitable by targeting specific geographies and product segments where they have a competitive advantage, such as trucks and vans.
Ford’s shift in strategy comes as the global auto industry faces challenges in the transition to electric vehicles. The company is aiming to position itself as a leader in the EV market, despite the setbacks in production timelines. Stay tuned for more updates on Ford’s electrification efforts and their pursuit of profitability in the EV space.
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