Ford Motor said it had delayed the planned launches of three-row EVs in Canada and its next-generation electric pickup truck built in Tennessee as the slowdown in EV demand globally forces automakers to revise production plans.
Ford said separately it was boosting hybrid electric vehicle offerings and by 2030 expects to offer hybrid powertrains across its lineup of gas-powered vehicles.
Ford shares were up 1.4% in midday trading.
The Dearborn, Michigan-based automaker said it would push back the launch of the new large EV SUV it will build at its assembly complex in Oakville, Ontario to 2027 from 2025 to “allow for the consumer market for three-row EVs to further develop and enable Ford to take advantage of emerging battery technology.”
Separately, Ford said it will delay deliveries of an all-new EV truck it will build at a new plant in western Tennessee until 2026. Ford said last year it planned to begin production in late 2025 and build up to 500,000 electric trucks annually at the plant.
Ford said it plans to begin customer deliveries of the new truck in 2026 and gradually ramp up production to help assure quality.
Mr. John Lawler, Chief Financial Officer, Ford told investors last year the automaker would delay some of its planned multibillion-dollar investment in new EV and battery production capacity. The U.S. Environmental Protection Agency last month softened EV requirements starting in 2027 from its initial proposal and further incentivized plug-in hybrid vehicles.
Covered By: Mobility India / Ford
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