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  • Ford pushes back EV target, warns of wider losses due to slower-than-expected adoption

    07/30/2023 9:20:59 PM PDT · by MinorityRepublican · 61 replies
    CNBC ^ | July 27, 2023 | John Rosevear
    Ford Motor said Thursday pushed back production targets for its electric vehicles, citing slower-than-expected adoption. Ford now expects to be building EVs at a rate of 600,000 per year sometime during 2024, a delay from earlier estimates that it would reach that level by the end of 2023. The automaker had previously targeted a rate of more than 2 million per year by the end of 2026, but now says it doesn't know when it'll achieve that volume. "The transition to EVs is happening, it just may take a little longer," CFO John Lawler said following the automaker's second-quarter earnings...