Ford Slows Down Electric SUV Production Amid Demand Concerns
Portfolio Pulse from Shivani Kumaresan
Ford Motor Co (NYSE:F) is delaying the launch of its new three-row electric vehicles in Oakville, Ontario, to 2027 from 2025, citing the need for further market development and advancements in battery technology. The company is also progressing with its Tennessee Electric Vehicle Center for a next-generation electric truck expected in 2026 and plans to begin tool installation at the Ohio Assembly Plant in spring 2025. Ford aims to offer hybrid powertrains across its entire Ford Blue lineup in North America by the end of the decade. In Q1 of 2024, Ford's electric vehicle sales increased by 86%, and hybrid sales rose by 42% year-over-year. The company is working with Unifor to address the impact of the launch delay on its workforce at Oakville. Ford's shares rose by 1.72% to $13.89.
April 04, 2024 | 2:56 pm
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Ford delays its three-row electric vehicle launch to 2027, focusing on market and technology readiness. Q1 2024 saw a significant increase in EV and hybrid sales, with shares rising by 1.72%.
The delay in the electric SUV launch to 2027 is a strategic move by Ford to ensure market readiness and leverage advancements in battery technology, indicating a long-term vision for its EV lineup. The significant increase in EV and hybrid sales in Q1 2024, along with the positive stock price movement, suggests investor confidence in Ford's EV strategy and its potential for future growth. The company's commitment to expanding its EV and hybrid offerings, along with infrastructure developments, further supports a positive outlook.
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