Ford modifies plans for electric vehicles, postpones the pickup truck, and does away with three-row SUVs

In response to the slower-than-expected growth of electric vehicles, Ford Motor is reorganizing its plans for electric vehicles, discontinuing its three-row SUV, postponing the release of its next-generation pickup truck, and expanding its portfolio with a new pickup truck and van.

The write-down of some assets for the originally planned three-row SUVs would result in a non-cash special charge for the carmaker of about $400 million. Up to $1.5 billion in further costs and cash outlays might follow.

Due to the slowing demand for electric vehicles, manufacturers like Ford, General Motors, and others have had to postpone or reschedule plans in order to avoid incurring excessive costs for vehicles that consumers are not purchasing as rapidly as anticipated.

Jim Farley, the CEO of Ford, has been praising the company’s California team for creating an architecture for reasonably priced electric cars. The business announced on Wednesday that a midsize electric pickup truck will be the first car to use the new technology, and it will be on sale in 2027.