Ford delays new EV plant, cancels electric three-row SUV as it shifts strategy
Publishing timestamp: 2024-08-21 10:09:40
Summary
Ford Motor is delaying production of next-generation all-electric pickup truck at new plant in Tennessee and canceling plans for three-row electric SUV. Instead, Ford will prioritize development of hybrid models and electric commercial vehicles. The company is shifting its strategy to focus on capital-efficient, profitable electric vehicle business, but the changes may result in additional expenses and cash expenditures. Ford plans to provide investors with an update on electrification, technology, profitability, and capital requirements in the first half of 2025.
Sentiment: MIXED
Tickers: F,
Keywords: ford motor co, transportation, breaking news: business, business news, detroit, autos, climate, environment, business,
Source: https://www.cnbc.com/2024/08/21/ford-delays-new-ev-plant-cancels-electric-three-row-suv.html