WASHINGTON (Reuters) - Ford Motor Co ( F ) said Thursday it is delaying the launch of its new three-row electric vehicles it will build at its assembly complex in Oakville, Ontario to 2027 from 2025.

The No. 2 U.S. automaker said the delay "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.

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, citing "tremendous downward pressure" on prices.

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 said in October it would delay production of electric pickup trucks at its plant in Michigan's Orion Township by a year.