Ford to Elevate Iconic Sub-brands as Automaker Prioritizes Hybrid, EV Technology
By Israel Monte
Aug 26, 2024 09:13 PM EDT
Ford is focused on strengthening its sub-brand vehicles and budget-friendly EVs.
Automotive News learned Sunday that the automaker is planning to expand its vehicle roster. Ford CEO Jim Farley has reportedly decided to develop the company's Mustangs, Broncos and Mavericks while also hybridizing its lineup.
The Explorer, Expedition and Transit are also expected to continue their pace, and Ford is looking forward to separating its utility lineup when the Escape gets unveiled by 2025.
The automaker quickly realized that the shift would take longer than anticipated. However, Ford would continue to increase the production of its EVs and make profits from the endeavor. Ford has also decided to increase the production of its gasoline-powered Super Duty trucks and terminate its plans to retool a Canadian plant for its electric vehicles.
The outlet n oted that Ford's F-150 Lightning's sales were around 79% in July 2024. It has also reduced its workforce at its Rouge Electric Vehicle Center in Dearborn, Michigan, by two-thirds and cut its production targets by half. Ford plans to finish its production of the F-150 by 2027.
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Ford's production for its next-generation pickup would also be set aside in about 18 months from 2026 to the second half of 2027.
The automaker's E-Transit would also have a sales status of 92.5% in the United States due to a range upgrade in 2023. The EV maker will redesign the E-Transit in its Ohio facility in 2026. Ford is also planning to build a midsize pickup EV in 2027 at its Louisville Assembly plant.
READ MORE HERE: Ford Abandons Large Electric SUV Plans, Prioritizes Hybrid Vehicles
For the automaker's three-row units, Ford has canceled the electric crossovers to focus on its branch of three-row hybrids. CFO John Lawler stated that despite Ford's efforts to cut costs, the company no longer felt that it could manufacture profitable three-row EVs.
The company's Mustang Mach-E will be redesigned by Ford by 2027 in Mexico. Ford is also expected to build its small crossover by 2028.
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