Ford is delaying its new electric SUV in favor of more hybrids
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- Ford said Thursday it's delaying the release of new three-row EVs by two years.
- It's not the first time the auto giant has hit the brakes on electric vehicles.
- Sales growth for hybrid cars is outpacing EVs this year.
Ford said Thursday it'll push back the release of its upcoming three-row electric vehicles by two years — from 2025 to 2027.
At the same time, the company said it is working on expanding its hybrid offerings, with more models expected across its lineup in North America by the end of the decade.
Ford's already-established hybrids have become something of a saving grace for the company as EV demand softens. The company has pulled back from some bigger EV ambitions while placing more emphasis on the hybrids that customers are clamoring for.
In the end, whether a customer drives off with an EV or a hybrid, "They are buying a Ford," product development exec Jim Baumbick previously told Business Insider. "and what excites us is bringing new customers to the brand."
Ford said the EV delays, announced Thursday, would give it additional time to incorporate emerging battery technology.
"As the No. 2 EV brand in the US for the past two years, we are committed to scaling a profitable EV business," Ford president and CEO Jim Farley said in a statement. He added the company's "next-generation EVs will be new from the ground up and fully software enabled, with ever-improving digital experiences."
Despite the latest delays, the company said it is still ramping up EV manufacturing across other facilities.
Ford is transforming its Oakville Assembly plant in Ontario — where the three-row electric vehicles will be produced — from a gas facility to an electric one beginning in the second quarter of this year.
A still-in-the-works BlueOval City campus in Tennessee will produce the sheet metal stampings for its new electric truck, which will deliver in 2026, Ford said.
Ford is also expanding an Ohio plant to make room for EV production in 2025, the company said, while a skunkworks team in California is developing new EV platforms.
It's not the first time Ford has hit the brakes on EVs. In October, the auto giant paused a $12 billion investment in the sector, saying electric vehicles were too expensive and that demand was slowing — as fellow automakers echoed its cautious tone.
Meanwhile, sales growth for hybrid cars is outpacing electric vehicles this year, Business Insider previously reported, partly due to high prices and driver worries about charging electric cars.