Key Points
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. ..
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..
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..
In the first quarter this year, Fords EV sales jumped 86% as it ramped up production while sales of hybrid vehicles rose 42%. ..
Fords 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..
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