Ford to shift EVs strategy by building lower-cost pickups and commercial van
The car maker is losing millions on its current EVs.
Ford is changing its electric vehicle plans and now will focus on making two new electric pickup trucks and a new commercial van.
The US company says these vehicles will cost less, have a longer range and are expected to be profitable within a year of reaching showrooms.
Ford, which is losing millions on its current EVs, gave few details about the new products.
It said production of its next generation full-size electric pick-up truck in Tennessee will be delayed by 18 months, until 2027.
The company also says it will not build fully electric three-row SUVs, but instead will focus on making those vehicles as gas-electric hybrids.
The other new pick-up will be mid-sized, based on new underpinnings developed by a small team in California.
The changes will force Ford to write down 400 million dollars (£307 million) of its current assets, and it also expects to have additional expenses of up to 1.5 billion dollars (£1.15 billion).
Ford’s chief financial officer John Lawler said: “We’re committed to creating long-term value by building a competitive and profitable business.”
