Ford has announced that it has canceled several electric vehicles in its pipeline and will shift its focus towards hybrid and gas-powered vehicles.
Company president Jim Farley called this move a response to the current demands of the global market: “This is a customer-driven shift to create a stronger, more resilient and more profitable Ford.”
“The operating reality has changed, and we are redeploying capital into higher-return growth opportunities: Ford Pro, our market-leading trucks and vans, hybrids, and high-margin opportunities like our new battery energy storage business,” he continued.
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However, this does not mean Ford is completely done with fully electric cars. In August, the American carmaker unveiled its new Universal EV Platform, which was said to optimize EV production and cut down costs in the process. The first vehicle to come off this platform—an affordable midsize pickup—has not been axed and is still slated for release in 2027.
What will be canceled is the current generation F-150 Lightning electric pickup, and a planned electric commercial van for the European market. The former will be replaced with an extended-range hybrid truck, which has been advertised with over 1,100km of range, along with great towing capacity.
Other reports have mentioned that the loss of EV incentives from the US government prompted Ford to make the hard shift to hybrid and gas models. The brand is expected to absorb a P1.144 trillion decrease in value after scrapping its planned EVs. However, Ford is now aiming to have hybrid and fully electric vehicles make up 50% of its global volume by 2030.
