Ford will write down hundreds of millions of dollars because of the pivot. A key reason for the change, an analyst tells NPR, is that big batteries bring big costs.
A Ford F-150 Lightning electric pickup truck is displayed for sale at a Ford dealership on Aug. 21 in Glendale, Calif. Ford says it is upending its electric vehicle strategy for North American vehicles to focus on hybrids, citing consumers' demands for affordability and longer ranges.If you’re a potential family car customer who’s holding off on buying an electric vehicle because of high prices and, Ford is thinking about you.
The change comes as Ford tries to flip the numbers around on EVs. As NPR reported earlier this year, the company has been. It’s had to scale back sales projections as it prepares for more changes, including an anticipated wave of new Chinese competitors. The company says it’s still working on producing a smaller car, for instance.
That’s particularly true for a big SUV with long range. For carmakers, shifting from full EV to hybrid offers more wiggle room. As for the changes announced by Ford, the carmaker isn’t alone in adjusting its plans, Streaty said, noting that GM and Tesla have also seen production cuts.
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