Ford adjusts EV lineup to lower vehicle costs

By Agence France-Presse

Aug 23, 2024 12:05 am

NEW YORK — Ford announced on Wednesday fresh changes to its electric vehicle (EV) lineup, including the scuttling of a planned SUV model, lifting shares despite a hefty near-term profitability hit.

The adjustments ― which reflect a slower-than-expected transition to EVs in North America ― will result in around $1.9 billion in cost hits to Ford's earnings, according to a Ford securities filing.

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