Ford updates its electrification strategy: all vehicles will be converted to hybrid versions by 2030

On June 10, 2024, according to media reports, Ford Motor Company has recently made significant adjustments to its electrification strategy, planning to launch hybrid versions for all its fuel powered models by 2030 and delaying the launch of some electric vehicle models.

Ford CEO Jim Farley emphasized that hybrid vehicles have become a more profitable option and expects their sales to double in the coming years.

In the wave of electrification transformation in the global automotive industry, Ford's strategic adjustment includes issuing initiatives to suppliers to reduce production costs.

Ford's Chief Supply Chain Officer Liz Door called on suppliers in an internal memo to propose cost reduction proposals to support the launch of multiple electric vehicles, including F-150 Lightning pickup trucks, next-generation P800 electric pickup trucks, Mustang Mach E, E-Transit freight vehicles, and large electric SUVs.

Ford is requesting suppliers to provide "incremental cost reduction recommendations" for these current and upcoming electric vehicles.

This measure is a direct response to the company's electric vehicle business losing billions of dollars in the first quarter of this year.

According to Ford's profit forecast, it is expected that the loss in the electric vehicle business will increase to approximately $5.5 billion by the end of 2024.

Through these strategic adjustments, Ford Motor Company is seeking to maintain financial health and market competitiveness in the process of electrification transformation, while providing consumers with more diverse choices of environmentally friendly cars.

Source: www.d1ev.com

Translated by; WONDEE Autoparts

2024/6/11