Reported about 2 months ago
Ford Motor Co. is shifting its electric vehicle strategy to introduce lower-cost electric pickups and a commercial van, aiming for more profitability amidst competition and high costs. The company will delay its next-generation electric pickup truck's production to 2027, forgo fully electric three-row SUVs due to battery expenses, and reduce capital spending on EVs. With losses amounting to $2.46 billion in the first half of the year, Ford emphasizes the need for a competitive cost structure to adapt to evolving market dynamics.
Source: YAHOO