Ford’s big bet on EVs didn’t pan out — now it’s pivoting to hybrids and energy storage
Ford announced a series of changes to its gas- and electric-powered vehicle business aimed at dramatically increasing hybrid vehicle production in the face of slowing EV sales. The automaker also will introduce some new products as part of this plan, including an extended-range EV version of its F-series truck and battery storage systems to meet growing demand from AI data center construction.
The news comes after Ford has weathered years of compounding losses from its struggling EV business. The 122-year-old company once had aspirations to surpass Tesla in battery-electric vehicle sales, but higher material costs and waning demand have sin …