Loading ...Ford Ditches Plans For Electric SUV As Industry Continues To Backpedal From EVs
The trend of legacy automakers ditching their plans and investments in EVs continues, with Ford reportedly the latest to cancel plans for a large three-row electric sport-utility vehicle, according to a new report from the Wall Street Journal.
The company will take $1.9 billion in related special charges and write-downs as a result, the report said.
Ford is canceling due to pricing pressures and increased competition, instead opting to focus on hybrid versions of its popular Explorer and Expedition models.
This decision reflects a broader trend among automakers that we have written about over the last year or two, especially since the UAW extorted negotiated their latest labor contracts from the Detroit automakers.
https://www.zerohedge.com/markets/ford-ditches-plans-electric-suv-industry-continues-backpedal-evs