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The Company Is Currently Seeing Significant Losses

Ford F-150 Lightning Logo
Image copyright Steven Pham, Muscle Cars & Trucks.

Consumers’ rapid adoption of electric vehicles isn’t going as planned for the automotive industry. We’ve seen manufacturers pumping the brakes on their rapid push toward building consumer EV offerings. While people are still purchasing EVs, it’s just at a different rate than was initially thought. This is due to several factors we have covered many times, such as a lack of charging infrastructure, range concerns, and affordability. Now, Ford is kicking the can on introducing two new EV products while it waits for things to improve.

According to Fox Business, during a recent manufacturing update, Ford announced that it’s pushing the production launch of its planned three-row electric SUV at its assembly plant in Oakville, Ontario, from 2025 to 2027. The two-year delay will give the consumer market for three-row EVs time to develop. On top of that, the delay should also enable Ford to “take advantage of emerging battery technology,” which could improve the product significantly by the time it launches.

Ford Rouge EV Center

That’s just one vehicle seeing a delay in production. Ford also revealed that the new truck set to be manufactured at its Tennessee plant won’t begin production until 2026 rather than late 2025 as initially predicted. The pushback should have a similar effect on the consumer market. Adding to this, production will start slow and gradually increase to ensure Ford can sustain the quality of its vehicles, much like the launch of the S650 Mustang and Super Duty trucks.

Last year, Ford lost around $4.7 billion on EVs, and the company projects losses in the range of $5 billion to $5.5 billion this year. So, by slowing the release of future EVs and production, the company hopes to reduce its losses and start seeing a return to profit. However, even despite the losses, Ford remains the Number two EV brand in the United States.

2022 Ford F-150 Lightning Electric Pickup Truck
Image copyright Steven Pham, Muscle Cars & Trucks.

Written by Zac Quinn

Zac's love for cars started at a young age, after seeing the popular Eleanor from Gone In 60 Seconds. From there, fascination and enthusiasm blossomed and to this day the Ford Mustang remains a favorite. His first job started out detailing cars, but also provided the opportunity to work on restoration including an 1968 Ford Mustang, Pontiac Firebird, and a C3 Corvette, though he left that job before further work and experience could be had. From there, he was a detailer at a car dealership before quitting that job to try and finish college.

Much of his free time while studying was spent watching YouTube videos regarding new cars, or off-roading. 4WD247 is a personal favorite channel which rekindled a dying flame in car enthusiasm, now tailored towards trucks and SUVs and the fun that can be had building up an overlanding rig, and going on adventures, though, that chapter remains unwritten for the time being.

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