WASHINGTON, April 4 (Reuters) - Ford Motor ( F ) said
Thursday it had delayed the planned launches of three-row EVs in
Canada and its next-generation electric pickup truck in
Tennessee as the slowdown in EV demand globally forces
automakers to revise production plans.
Ford said separately it was boosting hybrid electric vehicle
offerings and by 2030 expects to offer hybrid powertrains across
its lineup of gas-powered vehicles.
"We are committed to scaling a profitable EV business, using
capital wisely and bringing to market the right gas, hybrid and
fully electric vehicles at the right time," Ford CEO Jim Farley
said.
Ford, which lost nearly $4.7 billion on its EV business in
2023, said in February the next generation of EVs will be
launched "only when they can be profitable." Shares were up 1.8%
in premarket trading on the news.
The Dearborn automaker said it would push back the launch of
the new large EV SUV that it will build at its assembly complex
in Oakville, Ontario to 2027 from 2025 to "will allow for the
consumer market for three-row EVs to further develop and enable
Ford to take advantage of emerging battery technology."
Separately, Ford said it will delay deliveries of an all-new
EV truck it will build at a new plant in western Tennessee until
2026. Ford said last year it planned to begin production in late
2025 and build up to 500,000 electric trucks annually at the
plant.
Ford plans to begin customer deliveries of the new truck in
2026 and gradually ramp up production to help assure quality.
Ford Chief Financial Office John Lawler told investors last
year Ford would delay some of its planned multibillion-dollar
investment in new EV and battery production capacity.
The announcement comes just two weeks after the
Environmental Protection Agency softened EV requirements
starting in 2027 over its initial proposal and further
incentivized plug-in hybrid vehicles.
Ford had promised to retool the Ontario plant to make EVs
during contract bargaining in 2020 with Canada's Unifor union.
Ford said Thursday the overhaul of the Oakville assembly plant
is set to begin in the second quarter of this year as planned.
General Motors ( GM ) said in October it would delay
production of electric pickup trucks at its plant in Michigan's
Orion Township by a year.