Ford to delay all-electric SUV to focus on hybrid vehicles

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Ford CEO Jim Farley at a battery lab for the automaker in suburban Detroit, announcing a new $3.5 billion electric vehicle battery plant in the state to produce lithium iron phosphate batteries, Feb. 13, 2023.

Michael Wayland/CNBC

DETROIT – Ford Motor is delaying production of a new all-electric three row vehicle, as it shifts to offer hybrid options across its entire North American lineup, the company said Thursday.

The Detroit automaker said it will continue to invest in EVs, including the three-row SUV, but it is postponing its production to allow the market to mature.

The shift in EV plans is the latest for Ford and the entire automotive industry as adoption has been slower than many expected and production costs remain high.

“As the No. 2 EV brand in the U.S. for the past two years, 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,” said Jim Farley, Ford president and CEO. “Our breakthrough, next-generation EVs will be new from the ground up and fully software enabled, with ever improving digital experiences and a multitude of potential services.”

This is breaking news. Please check back for additional updates.


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