This is a very well done spin by the Ford PR folks, I applaud them! Better late than never, although billions have been wasted on electrics, I said on the air several years ago Ford, GM, Stellantis and others were jumping into the EV fray too hard and too fast. In spite of the full-court press push by the government, ultimately it is consumers who decide where their hard-earned money is spent.
Tesla was the envy of every automaker in the world, in spite of the fact that they went some 14 years without turning a profit in a market where there was zero competition. The losses would have been way worse had it not been for government subsidies and the ability to sell carbon credits to other automakers for millions of dollars. Still, you have to hand it to Elon Musk for figuring that out. Late last week, Tesla said they were scrapping plans to make an electric low cost vehicle. Government money is also fueling Elon’s Space X venture.
Audio from my interview on DFW station KRLD 1080 on April 5th: Why doesn’t America want electric cars:
So here is the statement from Ford. While not admitting it was an ill-fated plan and they moved too quickly, as I also said several years ago: Toyota gets it. The carmaker took a lot of heat and criticism over resisting EVs and staying the course with hybrids and plug-in hybrids. Oh sure, they dipped their toe in the water with the bZ4X, which has been a total flop while all the plug-in hybrid offerings have a waiting list and people lined up to buy them.
Here is what Ford is saying now. With what I said above, read between the lines. Key word here is “retiming”. How soon until GM and Stellantis give it up? I suspect it won’t be long.
Ford Takeaways:
- Ford continues to invest in a broad set of EV programs as it works to build a full EV line-up. In parallel, Ford is expanding its hybrid electric vehicle offerings. By the end of the decade, the company expects to offer hybrid powertrains across its entire Ford Blue lineup in North America
- Equipment installation is underway at the Tennessee Electric Vehicle Center assembly plant at BlueOval City, which aims to begin customer deliveries of Ford’s next-generation electric truck in 2026
- Expansion progresses at Ohio Assembly Plant in Avon Lake, to produce an all-new electric commercial vehicle for Ford Pro customers beginning mid-decade; construction progressing at BlueOval Battery Park Michigan, and BlueOval SK joint venture battery plants in Tennessee and Kentucky
- Ford reiterates commitment to its Oakville, Ontario, assembly plant as the company retimes the launch of its all-new three-row electric vehicles to 2027
- Design work continues on future EVs, including a flexible small and affordable EV platform by a skunkworks team in California
In a recent media release, Ford Motor Company said it is retiming the launch of upcoming electric vehicles at its Oakville, Ontario, assembly plant while continuing to build out an advanced industrial system to produce its next-generation electric vehicles, including greenfield construction and conversion of existing assembly plants.
The company went on to say it continues to invest in a broad set of EV programs as it works to build a full EV line-up. These initiatives support the development of a differentiated and profitably growing EV business over time while Ford serves customers with the right mix of gas, hybrid and electric vehicles based on demand today. In parallel, Ford says it is expanding its hybrid electric vehicle offerings. By the end of the decade, the company says it expects to offer hybrid powertrains across its entire Ford Blue lineup in North America. In the first quarter of 2024, Ford’s electric vehicle sales increased by 86% and hybrid sales rose 42% versus a year ago.
“As the No. 2 EV brand in the U.S. for the past two years, 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,” said Jim Farley, Ford president and CEO. “Our breakthrough, next-generation EVs will be new from the ground up and fully software enabled, with ever-improving digital experiences and a multitude of potential services.”
To see the entire release on future Ford plans, click here.
