Ford Revamps Electric Vehicle Strategy with New Pickups and Commercial Van

Ford Motor Co. is shifting its electric vehicle strategy to focus on two new electric pickup trucks and a new commercial van, aiming for lower costs, longer ranges, and profitability within a year of launch. The company will delay its next-gen full-size electric pickup to 2027 and discard plans for fully electric three-row SUVs in favor of gas-electric hybrids.

Ford Motor Co. is adjusting its electric vehicle strategy to concentrate on developing two new electric pickup trucks and a new commercial van. The automaker emphasizes that these vehicles will be cost-effective, offer extended range, and become profitable within a year of their release into the market.

Facing financial losses on its current EVs, Ford has provided limited information about the forthcoming models. It disclosed a delay of 18 months in the production of its next-generation full-sized electric pickup truck in Tennessee, now slated for 2027.

In a significant shift, the company will not pursue fully electric three-row SUVs. Instead, Ford will focus on producing gas-electric hybrid versions of these models. Additionally, another new pickup truck, which will be mid-sized, will feature new underpinnings developed by a specialized team in California.

This strategic overhaul will necessitate Ford writing down $400 million in current assets and incurring additional expenses up to $1.5 billion.

"We're committed to creating long-term value by building a competitive and profitable business," Chief Financial Officer John Lawler stated.

(With inputs from agencies.)