Ford delays next-generation EV pickup production, cancels three-row SUV plans

Ford Motor Company announced on August 21 that it is postponing the production of its next-generation all-electric pickup truck at its new Tennessee plant and cancelling plans for a three-row electric SUV.

Instead, Ford will shift its focus to developing hybrid models and electric commercial vehicles. The company revealed plans to introduce a new electric commercial van in 2026, followed by two electric pickup trucks in 2027. One of the pickups will be a full-size truck produced at the Tennessee facility, which is currently under construction, while the other will be a midsize truck developed by a specialized team in California.

The company expects the strategic changes to result in a special noncash charge of approximately $400 million due to the write-down of certain manufacturing assets linked to the canceled SUV. Additionally, Ford anticipates further expenses and cash outlays of up to $1.5 billion, which will be reflected in the financial quarter in which they are incurred.

Ford's capital expenditure plans will adjust, reducing the share of spending on all-electric vehicles from 40% to 30%, though a specific timeline for this shift was not provided. Vehicle production at the $5.6 billion Tennessee site, initially set to begin next year, is now expected to start with battery cell production in 2025.