Ford Shifts EV Strategy: Lower-Cost Pickups, Commercial Van

Detroit, Aug 21 (AP) Ford Motor Co is changing its electric vehicle plans and now will focus on making two new electric pickup trucks and a new commercial van. The company says all will cost less, have longer range and be profitable within a year of reaching showrooms.

Ford, which is losing millions on its current EVs, gave few details about the new products. But it said production of its next generation full-size electric pickup truck in Tennessee will be delayed 18 months, until 2027.

The company also says it won't build fully electric three-row SUVs, but instead will focus on making those vehicles as gas-electric hybrids.

The other new pickup will be mid-sized, based on new underpinnings developed by a small team in California.

The changes will force Ford to write down USD 400 million of its current assets, and it also expects to have additional expenses of up to USD 1.5 billion.

“We're committed to creating long-term value by building a competitive and profitable business,” Chief Financial Officer John Lawler said in a statement.