With customer demand for electric cars continuing to collapse, Ford Motor Co. stated in early April that it would postpone manufacturing two new electric-powered cars and instead concentrate on creating more hybrid vehicles.
The business said in a press release that the debut of two three-row seating electric cars would be postponed from 2025 to 2027.
According to Ford, the extra time will allow the three-row electric vehicle industry to mature and give the business a leg up in capitalizing on new battery technologies.
Ford also announced that their lineup of hybrid electric vehicles is growing. According to the manufacturer, hybrid powertrains will be available across the board in Ford Blue vehicles sold in North America by the decade’s end.
In 2023, Ford’s electric car division lost nearly $5 billion, excluding taxes and interest. However, the gas and hybrid models raked in nearly $8 billion.
Sam Abuelsamid, lead analyst for mobility and transportation at research company Guidehouse Insights, said that many businesses released overpriced electric vehicles too soon before realizing there wasn’t a demand for them. As a result, businesses are having a hard time making ends meet, have scrapped their intentions to develop electric models, or are battling to remain in business.
Electric vehicle buyers often gripe about exorbitant pricing, poor build quality and dependability, absence of charging stations, lengthy charging times, inconvenience, and drastically reduced performance in cold weather.
If re-elected in autumn, former President Trump has promised to repeal President Joe Biden’s electric car requirements.
According to a Trump campaign spokesman, Joe Biden’s radical electric vehicle requirement would destroy the U.S. auto industry. The plan would compel Americans to purchase automobiles they do not want or can not afford. The program is hostile to American workers, consumers, and the economy as a whole, as it would shift the car industry to China.
Among Trump’s campaign promises are safeguards for citizens’ right to drive whatever vehicle they want, stricter taxes on automobiles imported from China, and the preservation of the American auto industry for future generations.
