"Ford no longer plans to produce select larger electric vehicles where the business case has eroded due to lower-than-expected demand, high costs and regulatory changes," Ford said inthe release. The company also plans tostop the production of electric commercial vans it had planned to release in the US and Europe. Instead, it's boosting its hybrid car pipeline. "By 2030, about 50% of Ford's global volume will be hybrids, extended-range EVs and electric vehicles, versus 17% today," the company added.
Cars are becoming increasingly electrified and software-defined. This shift in the industry is making the car-making game increasingly attractive to companies that wouldn't have considered making cars a decade ago. Back then, who would've been willing to bet Japanese electronics giant Sharp would announce a car project? Hardly anybody, but that's exactly what the company announced today. Next week, Sharp plans to unveil a concept for its first-ever cara minimalist electric minivan with a price tag it says families can comfortably afford.
Tesla acquired the Fremont Factory from the defunct NUMMI joint venture between General Motors and Toyota in May 2010 for $42 million. The facility had produced more than 8 million vehicles under GM and Toyota over 26 years. Following its acquisition, Tesla retooled the 5.3-million-square-foot plant to support the production of the Model S sedan. Over the past 15 years, the factory has evolved into Tesla's primary North American production hub, assembling the Model S, 3, X, and Y. Annual output has exceeded 550,000 vehicles,
"To mitigate the financial impact and potential inventory problems, we think OEMs may decide to reduce EV production in the U.S. starting as early as Q325," UBS analysts wrote on Friday.
