Ford Pulls Back Its Electric Vehicle Push

Ford Motor is slowing its investments and new models in electric vehicles due to financial losses. The automaker has announced an 18-month delay in the release of a new large electric pickup truck and will no longer produce a three-row electric sport-utility vehicle. To mitigate multibillion-dollar losses, Ford is reducing its spending on electric vehicles. The company plans to introduce a new electric delivery van in 2026, and a medium-sized electric pickup in 2027. Ford’s chief financial officer acknowledged the changing market dynamics and emphasized the need for profitability in electric vehicles. The company’s capital budget for electric vehicle investments will now be around 30%.