Sunday, 14 April 2024
Trending

Investing

Ford delays Oakville EV launch, expands EV and hybrid lines By Investing.com

Ford delays Oakville EV launch, expands EV and hybrid lines By Investing.com


DEARBORN, Mich. – Ford Motor Company (NYSE:) has announced a revision in the launch schedule for its upcoming electric vehicles (EVs) at the Oakville Assembly Plant in Ontario, pushing back the debut of its all-new three-row electric vehicles from 2025 to 2027. The company cited the need to allow the consumer market for three-row EVs to mature and to leverage advancements in battery technology aimed at enhancing durability and value for customers.

Despite the delay, Ford’s commitment to its Canadian manufacturing remains steadfast, with the company working closely with Unifor to minimize the impact on its workforce. Bev Goodman, president and CEO of Ford Canada, emphasized the importance of the revision for a sustainable future for the company and its employees.

Ford’s overall EV strategy continues to progress, with the installation of equipment at the Tennessee Electric Vehicle Center at BlueOval City underway. This facility is expected to begin customer deliveries of Ford’s next-generation electric truck in 2026, integrating Industry 4.0 principles to improve quality and efficiency. The plant’s management team includes experienced leaders from various industry giants, indicating a strong emphasis on innovation and quality.

In Ohio, the expansion of the Avon Lake Assembly Plant is on track to start producing a new electric commercial vehicle for Ford Pro customers by the middle of the decade, with construction milestones being met.

The company is also investing in the development of future EVs, with a skunkworks team in California designing a flexible, affordable EV platform. This effort follows Ford’s acquisition of Auto Motive Power (AMP (OTC:)) in late 2023, highlighting its dedication to the EV market.

Construction at BlueOval Battery Park Michigan and the BlueOval SK joint venture battery plants in Tennessee and Kentucky is advancing, supporting Ford’s EV expansion.

Ford’s Q1 2024 results showed an 86% increase in EV sales and a 42% rise in hybrid sales compared to the previous year. The company is also broadening its hybrid offerings, with plans to equip its entire Ford Blue lineup in North America with hybrid powertrains by the end of the decade.

This announcement is based on a press release statement from Ford Motor Company (NYSE: F), a global automotive leader committed to creating a better world through sustainable and innovative transportation solutions.

InvestingPro Insights

As Ford Motor Company adjusts its timeline for launching new…

Click Here to Read the Full Original Article at All News…