Ford is cancelling plans to manufacture a three-row electric sport utility vehicle, warning that the decision could cost it up to $1.9bn in the latest sign of US carmakers adjusting to slower than expected demand for expensive EVs.
The Michigan-based group said on Wednesday that its planned electric SUV would not be able to turn a profit within a year of launch, due to a crowded market segment and mainstream consumers’ reluctance to pay higher prices for EVs.
Source: Financial Times
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