Advertisement
UK markets closed
  • NIKKEI 225

    39,232.80
    -290.75 (-0.74%)
     
  • HANG SENG

    16,600.46
    -121.23 (-0.72%)
     
  • CRUDE OIL

    85.91
    +0.50 (+0.59%)
     
  • GOLD FUTURES

    2,402.30
    +19.30 (+0.81%)
     
  • DOW

    37,735.11
    -248.13 (-0.65%)
     
  • Bitcoin GBP

    50,485.71
    -1,532.38 (-2.95%)
     
  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     
  • NASDAQ Composite

    15,885.02
    -290.08 (-1.79%)
     
  • UK FTSE All Share

    4,338.90
    -14.76 (-0.34%)
     

Ford delaying rollout of new electric pickup truck, SUV

Ford is delaying the rollout of its new electric pickup truck and electric SUV as the demand for EVs decelerates industry-wide.

The Dearborn, Mich., auto giant said on Thursday it had delayed the launches of its electric pickup truck built in Tennessee and the three-row SUV manufactured in Ontario, Canada.

Despite the delay, the auto-manufacturing company said it will expand its hybrid electric vehicle offerings, hoping to have “hybrid powertrains” across its lineup of gas-powered cars by the end of this decade.

Ford said it postponing the production of the SUV at the Canada plant from 2025 to 2027. The pickup will be pushed back from 2025 to 2026.

ADVERTISEMENT

The delay of the rollout comes as the company previously cut down on the production of the electric pickup F-150 Lightning in January, pointing to lighter demand.

“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,” Jim Farley, Ford’s president and CEO, said.

“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.”

Ford said it is still focused on EVs at its newer factories such as the “BlueOval City” campus in Tennessee.

The company said the Ontario plant’s overhaul from producing gas-powered vehicles to EVs is scheduled still for the second quarter.

“We are fully committed to manufacturing in Canada and believe this decision will help us build a profitably growing business for the long term,” Farley said.

Ford also added it will continue construction of battery plants in Kentucky, Michigan and Tennessee.

For the latest news, weather, sports, and streaming video, head to The Hill.