Automotive: Ford continues to lose shirt on ‘Green New Scam’ EVs

Due to consumers increasingly rejecting EVs, Ford Motor is delaying production of a next-generation all-electric pickup truck at a new plant in Tennessee and canceling plans for a three-row electric SUV, the company said Wednesday.

The company continues to take a financial bloodbath on The Green New Scam electric vehicles.

Ford said it will prioritize the development of hybrid models, as well as electric commercial vehicles such as a new electric commercial van in 2026, followed by two EV pickup trucks in 2027 – which we guarantee you will also result in huge losses for the company.

The pickups are expected to be a full-size truck, which will be produced in 2027 at the Tennessee plant that’s currently under construction, and a new midsize truck being developed by a specialized “skunkworks” team in California.

“As we’ve learned in the marketplace, and we’ve seen where people have gravitated, we’re going to focus in where we have competitive advantage, and that’s on commercial land trucks and SUVs,” Ford CFO John Lawler said Wednesday.

The actions are meant to better deliver a capital-efficient, profitable (profitable? good luck with that) electric vehicle business, said Lawler, who also serves as vice chair of the automaker. But, in the short term, they will cost the company.

Ford said it will incur a special non-cash charge of about $400 million for the write-down of certain product-specific manufacturing assets, including the cancellation of the three-row SUV.

The company said the changes may also result in additional expenses and cash expenditures of up to $1.5 billion. Ford will reflect those in the quarter in which they are incurred, as a special item.