Ford revamps electric vehicle strategy with push into hybrids

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Ford revamps electric vehicle strategy with push into hybrids
The automaker’s EV division has been losing money, but pivoting from all-electric vehicles to hybrid technology could cost Ford up to $1.9 billion more.


A line of 2024 F-150 and Lightning electric pickup trucks at a Ford dealership in Denver in May. (David Zalubowski/AP)

By Aaron Gregg and Maxine Joselow
Updated August 21, 2024 at 10:24 a.m. EDT | Published August 21, 2024 at 9:22 a.m. EDT

Ford is revamping its money-losing electric vehicle business, retreating from some plans for all-electric vehicles and instead prioritizing the development of hybrid technology, the automaker announced Wednesday.

The announcement underscores the challenges facing U.S. automakers as they seek to boost sales of EVs, a crucial technology in the fight against climate change, despite flagging consumer demand, supply chain challenges and increased competition with Chinese carmakers.

Ford is scuttling plans for a three-row electric SUV and spending less of its total resources on all-electric vehicles, with annual capital expenditures dedicated to pure EVs declining from about 40 percent to 30 percent.

Still, executives said production will begin on an all-electric commercial van in 2026. The automaker also has plans for two more electric pickups and long-range SUVs.

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By Aaron Gregg
Aaron Gregg is a business reporter for the Washington Post. Twitter

By Maxine Joselow
Maxine Joselow is a staff writer who covers climate change and the environment. Twitter