Ford is thus responding to market needs and changing its approach. The company has decided to limit its current plans to an all-electric future and instead focus more on developing other platforms. In 2022, a special group of 300 people was created to develop an affordable electric car capable of competing with Chinese cars. The first result of this group will be a medium-sized pick-up, which is planned to be launched in 2027.
Rapid adoption of new technologies
Customers who were the first interested in new automotive technologies have already purchased electric cars. But automakers like Ford now face the challenge of convincing more skeptical mass customers to switch to pure electric vehicles. These customers are concerned about the limited range and the still insufficient infrastructure of charging stations.
Even those who were among the first interested in electric cars or are striving to reduce their carbon footprint, may be discouraged by the fact that some electric vehicles lose up to half of their value in the first year.
Automobile companies are thus under increasing pressure. Ford said in a statement that it is expanding its offering to its customers while adjusting its electric vehicle rollout strategy to create an efficient and profitable business. He also highlighted the advantages of Chinese manufacturers, who can reduce costs through vertical integration, cheaper engineering, advanced battery technologies and digital innovation.
By canceling its three-row SUV and postponing a new generation of pickup, Ford is trying to minimize the losses caused by its initially ambitious plans for electric cars. In Europe, the new models were initially claimed to usher in an "all-electric future".
New cars must be profitable
Ford does not plan to launch any new electric cars unless they are able to generate a profit within a year of going on sale. As part of cost-cutting efforts, it is delaying the launch of its T3 electric truck, the successor to the F-150 Lightning, until the second half of 2027. Production was set to begin next year, with the truck being assembled in Tennessee at the BlueOval City plant. Ford also plans to launch a new all-electric van that will go into production in 2026. Ford isn't the only automaker changing its strategy.
