CHICAGO, April 4 (Xinhua) -- Ford Motor Company said on Thursday that it is retiming the launch of upcoming electric vehicles at its Oakville, Ontario, assembly plant to 2027 from 2025.
The additional time will allow for the consumer market for three-row EVs to further develop and enable Ford to take advantage of emerging battery technology, with the goal to provide customers increased durability and better value, the U.S. automaker said in a statement posted on its website on Thursday.
In parallel, Ford is expanding its hybrid electric vehicle offerings. By the end of the decade, the U.S. automaker expects to offer hybrid powertrains across its entire internal combustion engine lineup in North America.
"As the No. 2 EV brand in the U.S. for the past two years, we are committed to scaling a profitable EV business, using capital wisely and bringing to market the right gas, hybrid and fully electric vehicles at the right time," said Jim Farley, Ford president and CEO. "Our breakthrough, next-generation EVs will be new from the ground up and fully software enabled, with ever-improving digital experiences and a multitude of potential services."
Ford reported Wednesday that its electric vehicle sales increased by 86 percent and hybrid sales rose 42 percent from a year ago in the first quarter of 2024.
