08:19 AM EDT, 08/21/2024 (MT Newswires) -- Ford Motor Co. ( F ) is canceling its plans to produce an all-electric, three-row SUV, a move that will result in a special non-cash charge of about $400 million and could cost an additional $1.50 billion in expenses and cash expenditures, the company said Wednesday.

Ford is opting instead to "leverage hybrid technologies" for its next three-row SUVs, the company said, adding that it is also "retiming" the launch of its electric truck to H2 2027.

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