Ford has canceled its plans to develop a fully electric SUV and will shift its focus to hybrid technologies for its next lineup of three-row SUVs. This decision is expected to incur up to $1.9 billion in costs, including a $400 million non-cash charge for asset write-downs related to the halted electric SUV project.
In addition to these changes, Ford has unveiled new vehicle plans. The company will introduce a commercial van in 2026 and two new pickup trucks in 2027. The launch of the electric truck, known as “Project T3,” has been delayed and is now scheduled for the second half of 2027.
Moreover, Ford is collaborating with LG Energy Solutions to move some of the Mustang Mach-E battery production to Michigan, with this shift expected to begin in 2025.
Stay informed with our financial updates, stocks, bonds, commodities. Get global & political insights. Follow us & enable notifications for the latest updates.
