Prediction: Ford Shifting Gears With EVs and Turning to Hybrids Will Benefit Investors in the Long Run
Ford (NYSE: F) recently announced that it is scrapping plans for a three-row electric SUV and instead will look to introduce the vehicle as a hybrid. The move is part of a broader strategy shift that will see the automaker shift more resources toward hybrids and away from electric vehicles (EVs).
My prediction is that this will turn out to be a very good move for Ford going forward, despite the cost of the change of plans.
In addition to deciding not to go forward with its three-row electric SUV, the company announced a number of other planned changes. It will push back the successor of the F-150 Lightning to 2027, while it will begin production of a new electric van aimed at tradespeople and commercial users in 2026. It also plans to start production of a medium-sized electric pickup in 2026. Meanwhile, it will move battery production from Poland to Michigan to take advantage of tax credits.
Source Fool.com
