Ford on Wednesday said it will not produce its planned electric three-row SUV. Instead, it “now plans to leverage hybrid technologies for its next three-row SUVs.'
Ford is backing away from its planned all-electric three-row SUV. The automaker said Wednesday that it will not produce the vehicle, and instead "now plans to leverage hybrid technologies for its next three-row SUVs." The cancelation of the SUV will result in a roughly $400 million write-down of "certain product-specific manufacturing assets," according to the company. Ford in April pushed its launch back from 2025 to 2027.
We’re committed to creating long-term value by building a competitive and profitable business," Ford CFO John Lawler said in a statement. "With pricing and margin compression, we’ve made the decision to adjust our product and technology roadmap and industrial footprint to meet our goal of reaching positive EBIT within the first 12 months of launch for all new models."
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