DETROIT (AP) — Facing competition from automakers with lower costs , Ford Motor Co. is shifting its electric vehicle strategy and now will focus on making two new electric pickup trucks and a new commercial van.
DETROIT — Facing competition from automakers with lower costs, Ford Motor Co. is shifting its electric vehicle strategy 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 before taxes within a year of reaching showrooms.
The other new pickup will be mid-sized, based on new underpinnings developed by a small team in California. It also will go on sale in 2027. Production of the unspecified van will start at an assembly plant west of Cleveland in 2026. The company also said it will cut capital spending on EVs. It now will spend 30% of its annual capital budget to develop them rather than the current 40%.
“These dynamics underscore the necessity of a globally competitive cost structure while being selective about customer and product segments to ensure profitable growth and capital efficiency,” the company said.
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