Ford Shifts Focus to Hybrid Vehicles, Delays North American EV Production

Ford is delaying production of a new all-electric SUV and shifting focus to offering hybrid options across its entire North American lineup by 2030, citing slower EV adoption and high production costs. The automaker will continue to invest in EVs but is postponing production of the large SUV at a Canadian plant from 2025 to 2027 to allow the market to mature. CEO Jim Farley emphasized the commitment to scaling a profitable EV business and bringing to market the right gas, hybrid, and fully electric vehicles at the right time, with an increase in electric vehicle sales by 86% in the first quarter of 2024.