Ford Motor delays launch of new EV to let market further develop
Ford Motor said it is delaying the launch of a new three-row electric vehicle, which will buy time for the consumer market for EVs to further develop. The carmaker now expects to launch the new EV in 2027, delayed from a previous target date of 2025. Ford said it will still produce the EV at its Oakville Assembly Plant in Canada, which Ford is planning to overhaul from gas-vehicle production to an EV manufacturing plant.
Ford said it plans to work with Unifor, a labor union, to mitigate the impact of the delayed launch on the workforce at the Oakville plant. “We are committed to scaling a profitable EV business, using capital wisely and bringing to market the right gas, hybrid and fully electric vehicles at the right time," Ford Chief Executive Jim Farley said. Ford said it is still investing in ramping up EV production at other of its facilities.
The company said it is also boosting production of hybrids. In the first quarter this year, Ford’s EV sales jumped 86% as it ramped up production while sales of hybrid vehicles rose 42%. Ford’s shifting plans for EV production are the latest sign that automakers are rethinking how they transition to EVs amid signals that many consumers still prefer gas-powered or hybrid vehicles.
U.S. EV makers, including Tesla, are also facing intensifying competition from Chinese manufacturers, such as BYD. Write to Will Feuer at Will.Feuer@wsj.com
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