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Ford Cancels Electric SUV, Delays EV Pickup
Volkswagen said this week it would wait to see where EV demand goes before building out the last three of its six planned battery factories. And now Ford has also cancelled its planned electric SUV and delayed production of an all-new electric pickup, according to CNBC, moves Ford now believes could...
The losses, as well as changing market conditions and business plans, caused Ford earlier this year to withdraw an ambitious 8% profit margin for its EV unit by 2026. Investors and Wall Street analysts have largely supported the EV changes, most recently sending the company's shares up about 2.3% since the announcement earlier this week, despite the expected costs. "Overall, these changes will position Ford to benefit from growing demand for EVs, while also focusing on areas in which it has a Core competitive advantage," BofA's John Murphy wrote Wednesday in an investor note...
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