A Ford Mustang Mach-E electric vehicle charging. Photo: Patrick T. Fallon / AFP via Getty Images
Ford today said it's delaying new electric vehicles as consumer adoption trails expectations.
Between the lines: Ford said it will push back the launch of a new EV pickup from 2025 to 2026 and new three-row SUV EVs from 2025 to 2027.
"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 company said in a statement.
The big picture: The announcement comes two days after Tesla reported a surprisingly steep slump in first-quarter sales, underscoring the broader challenges for the EV market.
Smaller companies are also running into a wall, as EV startup Fisker is reportedly weighing a bankruptcy filing.
Yes, but: Ford said it's continuing construction on several new facilities that will build or design future EVs and components.
