Ford is canceling its electrical three-row SUV and delaying the launch of a brand new electrical pickup truck till 2027. The Expedition-like SUV had already been delayed to 2027; with its cancellation, the corporate will now pivot to creating new fuel and hybrid-powered three-row SUVs.
Ford now says it received’t launch any new electrical autos till it could guarantee profitability on the fashions throughout the first yr of launch and prioritize a brand new industrial EV van that may start manufacturing in Ohio in 2026.
Ford has struggled to carry its spending on EV manufacturing according to the income introduced in by its car lineup, which incorporates the Mustang Mach-E, F-150 Lightning, and E-Transit van. The corporate reported a $1.3 billion loss for its Mannequin e EV division within the first quarter of 2024 and a $1.1 billion loss within the second quarter.
The automaker is decreasing capital spending on EVs to 30 p.c, down from the earlier 40 p.c. The canceled electrical SUV may doubtlessly price Ford $1.5 billion in bills and a particular non-cash cost of $400 million.
Ford was additionally reportedly engaged on a extra inexpensive EV in one of many automaker’s skunkworks labs, which remains to be on monitor. The primary car might be a midsized electrical truck, not a compact one which had beforehand been rumored. Ford can also be trying so as to add hybrid powertrain choices to its upcoming next-generation Tremendous Obligation pickup vehicles, much like the corporate’s hybrid F-150.
In the meantime, the anticipated successor to the F-150 Lighting, often called the T3 truck, will now go into manufacturing in late 2027 as a substitute of 2025. In response to Ford, “…the truck will provide options and experiences by no means seen on any Ford truck, together with upgraded bi-directional charging functionality and superior aerodynamics.”