The government’s social planners are trying to force-feed EVs to a reluctant populace. This week, another crack in the plan appeared when Ford Motor Company canceled plans for a large electric sport-utility vehicle.
They expect to take $1.9 billion in related special charges and write-downs. Automakers must continually adjust their EV plans because demand is low.
This spring, the Dearborn, Mich., automaker said it would delay plans for an electric three-row SUV by two years to a 2027 release date. On Wednesday, the company said it is scrapping the model altogether, citing tough pricing pressure as automakers resort to aggressive discounts to move their EVs.
Ford instead will offer a hybrid gas-electric version of a future large, three-row SUV, a popular vehicle category that includes the brand’s Explorer and Expedition nameplates.
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The hybrids work, and you don’t need charging stations. They aren’t cheap either, but they are efficient and don’t carry the same stress levels. Motorists also don’t have to rely on only the battery. The rise in hybrid sales has made them profitable.
Ford stock went up on the news.
There is something else.
WHAT THEY WON’T TELL YOU
EVs force the US to send business to China, not American workers. The competition from Chinese EVs is impossible to meet, and manufacturers cannot do anything to improve the situation. Watch the clip.
More from the WSJ:
Ford has said its EV business is on pace to lose about $5 billion this year. Executives have said the company is trying to reduce those losses on its current EV lineup while making sure future offerings turn a profit.
Carmakers are trying to strike a tricky balance on electric vehicles. Tougher tailpipe-emissions rules, along with the rapid rise of Chinese EV makers, are pressuring them to invest in the technology. But, consumer interest in EVs has waned after a burst of enthusiasm.
For example, while Ford is recalibrating its plans to include more hybrids, it also is moving ahead with the rollout of several full EVs. It will start making an electric commercial van in 2026 and two new pickup trucks a year later.
General Motors and other traditional automakers also have pulled back or delayed some EV investments.
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