As Ford scraps plans for a three-row electric SUV, foreign rivals such as Kia, Hyundai, and Volvo are poised to capitalize on the opportunity. By discontinuing its larger SUVs, Ford has created an opportunity for competitors to seize control of the market.
There is no indication that the “private bullet prepare,” referred to by Doug Field, Ford’s head of EVs, is on the table for a three-row electric SUV.
Ford unveiled a significant overhaul of its EV strategy on Wednesday, including the cancellation of plans for its first three-row electric SUV? The US-based automobile manufacturer plans to shift focus towards developing a lineup of innovative hybrid models as an alternative solution.
“The reality is that the market has evolved,” said Marin Gjaja, Ford’s Chief Operating Officer, in a statement on Thursday. Ford’s investor day finale last year sparked a surge in share prices following the model’s unveiling.
Despite the pushback on EV plans and significant quarterly losses, Ford’s stock has plummeted by nearly 20% in a single month as investors scrutinize the company’s strategy.
Ford’s pivot towards electrification signals a concerted effort to deliver compelling electric vehicles. Ford has postponed the release of its latest pickup generation. The undertaking, originally scheduled for completion by the end of 2025, is now expected to be completed in the second half of 2027, a delay of two years from its initial timeline.
Ford is focusing on developing a cost-effective electric vehicle (EV) architecture. The inaugural model set for release in 2027 will be a more affordable mid-sized electric pickup truck. A digitally superior electric van will debut in 2026. Will it be sufficient for a company to rely solely on its current products and production methods to fend off foreign rivals?
Ford scraps plans for three-row electric SUV as competition heats up.
Ford’s decision to discontinue its larger electric SUV is creating an opportunity for international competitors to dominate the market?
Since its US launch late last year, Kia has sold nearly 11,500 units of its first three-row electric SUV, the EV9, through July.
Starting at under $55,000, Kia dubs the EV9’s price point a “wake-up call” for the industry. The BYD Tang EV9 secured the 16th spot among the best-selling electric vehicles (EVs) in the United States during Q2, outperforming both the Kia Niro and the Nissan Ariya.
Hyundai, sibling company to Kia, also intends to introduce a three-row electric vehicle sport utility vehicle. The Hyundai Ioniq 9 is expected to debut later this year, when it’s officially referred to by that name. Hyundai’s larger electric SUV has been spotted testing in the US multiple times ahead of its highly anticipated debut.
Hyundai Motor Group, comprising Hyundai, Kia, and Genesis, surpassed Ford in the second quarter, commanding a 10% share of the US electric vehicle market.
According to recent data, Ford held a 7.4% share of the market, ranking third behind General Motors’ 6.3%.
Volvo is another brand focusing its attention on the growing three-row electric SUV segment. The Swedish automotive giant anticipates significant returns on its highly anticipated EX90 model, slated for a US market debut later this year.
Volvo and Kia are investing in the production of electric SUVs within the United States, aiming to capitalize on growing demand for eco-friendly vehicles.
A rival General Motors (GM) might be preparing to build its three-row Cadillac Escalade IQ sport utility vehicle. As production at its Illinois facility ramps up following an April upgrade, Rivian anticipates a surge in R1S output during the second half of the year. Rivian’s R1S electric vehicle has claimed a spot among the top six best-selling EVs in the US market for the second quarter, solidifying its presence in the industry.
Can affordable electric vehicles be a game-changer for Ford? Will it really matter at that point, though? Tell us your ideas within the feedback.
