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Update: headline updated to show Ford is still committed to EVs, just at a less intense rate. The move comes as profitability and consumer trends are taking focus. Ford has struggled to get its head above water in terms of making money on its EVs, scaling back its investment amount on one occasion and adjusting its strategy on another.
Consumers are also showing more interest in hybrids than pure EVs. Studies have shown that hybrid drivers are among the most satisfied on the road, as a recent survey from ACSI displayed increased satisfaction from those drivers over pure EV and gas engine owners. Ford is taking steps to pull back from its increased focus on EVs and instead go into a new direction. It also wants to adjust the speed at which electric vehicle models are released, hoping to be more aligned with customer adoption instead of keeping pace with industry leaders.
Tesla sells well, but Ford, even though it has been the number two brand in the U. Tesla, simply put, is head and shoulders above everyone in the market when it comes to reliability, tech, and charging infrastructure. The company will no longer build these models, it said. Ford will still be building EVs, but its entire game plan will be shifting significantly. The E-Transit will still be produced, as it is the best-selling commercial EV van in the country.
It also helps business owners keep their bottom line as it has positive impacts on the total cost of ownership. Ford will bring a new mid-sized EV pickup to market in with more range, utility, and useability.