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Ford has announced it will shelve its electric three-row SUV plans and push back its ‘T3’ electric pick-up truck launch by two years.
In the case of the SUV, the US$1.9 billion (AU$2.8 million) project was cancelled because it would not have been possible to make a profit within the first year, according to the brand .
The company says it is instead looking to make a hybrid three-row SUVs, though what size — whether these will be Toyota Kluger and Hyundai Palisade rivals or larger — remains to be confirmed.
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More electric cars are still in the pipeline, however Ford seems to be waiting for the prices of battery and motor technology to drop before it goes after Tesla, BYD and others.
Ford President and CEO Jim Farley said "If you are not competitive on battery cost, you are not competitive," in a media statement.
Additionally, a cut to overall spending on electric car development from 40 per cent of the company’s investment budget to 30 per cent was announced.
As for the ‘T3’ electric F-Series-sized pick-up truck that was slated for production by the end of next year, it has been pushed back to the second half of 2027 for similar cost reasons.
It will apparently be joined by a mid-size electric ute developed by Ford’s California ‘skunk works’ team. A Ranger ute is considered ‘mid-size’ in the United States, so Australia could score an electric version of its most popular ute. However, CarsGuide understands the Ranger as we know it will remain in production for this entire decade.
Farley’s time at the helm of Ford has been a turbulent one, with funds allocated to ramping EV development part of the initial plan before that stalled. The CEO noted that small electric vehicles are what will be profitable in the future.
Ford has yet to officially unveil its first small EV, the Puma Gen-E, though the BYD Atto 3 and Hyundai Kona Electric rival is confirmed for an Australian launch in 2025.
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