Ford is cancelling plans for an electric SUV in a move that could cost it $1.9 billion.
Ford Motor Co. is scrapping plans for a three-row all-electric sport-utility vehicle, saying that it will instead focus on manufacturing hybrids. The shift comes as consumers are growing cooler toward EVs, and instead are expressing more enthusiasm for other types of fuel-efficient vehicles. The Dearborn, Michigan-based automaker said Wednesday its new plan is designed to 'speed customer adoption' of more affordable vehicles with longer ranges, amid softening demand for EVs.
electric vehicle brand about what customers want and value, and what it takes to match the best in the world with cost-efficient design, and we have built a plan that gives our customers maximum choice and plays to our strengths,' Ford CEO Jim Farley said in a statement Wednesday. Ford also announced plans to launch an electric commercial van in 2026, plus two new pickup trucks in 2026, in addition to other vehicles.
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