'Ford Expects To Begin Building The Electric Explorer In June, Second EV By The End Of 2024' - Electrek
Portfolio Pulse from Benzinga Newsdesk
Ford plans to start production of the electric Explorer in June, with first deliveries in August, after an eight-month delay. The delay was due to a new battery standard. Ford's second EV, also based on VW's platform, is expected by the end of 2024. The Cologne factory was upgraded for $2 billion for EV production. Ford aims to sell 600,000 EVs annually in Europe by 2026 and go all-electric by 2035. The electric Explorer will start under $50,000. Ford also confirmed an electric three-row SUV for the US and a next-gen electric pickup, the T3 project. Ford's next-gen EV platform is due in 2025.
January 16, 2024 | 5:37 pm
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Ford is starting production of its electric Explorer in June with deliveries in August, and a second EV is expected by end of 2024. The company is committed to an all-electric lineup in Europe by 2035 and aims to sell 600,000 EVs annually by 2026.
The news of Ford's progress in EV production and the commitment to future EV models is likely to be viewed positively by investors. The delay is a concern, but the clear strategy and investment in EVs signal a strong future direction. The market may respond well to Ford's continued push into the EV space, despite the competition and previous delays.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100