Ford is adapting its strategy by canceling its electric SUV and delaying its electric pickup truck launch until 2027, focusing instead on gas and hybrid SUVs.
The company cited the need for profitability as its main criterion for launching new electric vehicles, postponing releases until financial viability is ensured.
Despite efforts in the EV sector, Ford's Model e division reported significant losses, with $1.3 billion in Q1 and $1.1 billion in Q2 of 2024.
Ford's decision to reduce EV capital spending from 40% to 30% reflects the slowed sales growth and reined-in expectations across the automotive industry.
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