This decision comes as part of Ford’s efforts to cut costs and adapt to the evolving market dynamics.

The company is now focusing on hybrid vehicles and more affordable EVs to meet consumer demand and maintain profitability. “With pricing and margin compression, we’ve made the decision to adjust our product and technology roadmap,” said John Lawler, Ford’s Chief Financial Officer. Ford will also relocate its battery production facilities to take advantage of U.S. incentives, aiming to reduce production costs and enhance competitiveness. This strategic pivot underscores Ford’s commitment to balancing innovation with financial sustainability, ensuring that it remains a key player in the automotive industry’s transition to electric mobility.