Ford focuses on Hybrid models after losing billions on EVs
Ford executives said the carmaker is working on a slate of new hybrid cars. The words run counter to recent messaging from the Detroit automakers.
Heads up, hybrid lovers: Ford Motor is working on numerous new hybrid cars.
“You’re going to see a lot more hybrid systems from us,” CEO Jim Farley confirmed Thursday after the firm declared second-quarter profits that showed widening losses on its electric cars unit.
The words counter recent messaging from the Detroit automakers, which have praised the performance and popularity of all-electric favourites as the industry shifts to meet EV targets. The hybrid publicity, however, falls more closely in line with international hybrid giant Toyota, which has faced criticism for what a few saw as resistance to the EV transition.
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To be precise, Ford is staying on its much-touted EV push, though it said Thursday that its EV ramp-up might take longer than expected.
But even as it pays billions to ramp up EV production, it’s preparing to get more hybrid opportunities to market, caused by the success of its current gasoline-electric options.
“We have been surprised, frankly, at the popularity of hybrid systems for F-150,” Farley stated during Ford’s second-quarter profits call. Around 10% of F-150 pickup buyers opt for the hybrid model, and that percentage has been rising.
