As Ford loses billions on EVs, the company embraces hybrids
Publishing timestamp: 2023-07-29 16:35:25
Summary
Ford Motor Company is working on developing a range of new hybrid models, according to CEO Jim Farley. This announcement goes against recent messaging from other Detroit automakers who have been focusing on all-electric vehicles. Ford plans to bring more hybrid options to the market, driven by the success of its current gasoline-electric options. The company believes that customers appreciate the efficiency of hybrid systems for certain duty cycles and the added capabilities provided by batteries. Ford's decision to double down on hybrids may be due to the slower-than-expected adoption of electric vehicles. The company aims to offer an in-between option for power-hungry but EV-wary drivers while still promoting its battery-electric F-150 Lightning pickup.
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Keywords: climate, breaking news: business, ford motor co, business news, business, environment, toyota motor corp, electric vehicles, transportation,
Source: https://www.cnbc.com/2023/07/28/ford-embraces-hybrids-as-it-loses-billions-on-evs.html