Ford Motor is changing course on its production strategy, putting more focus on its popular Super Duty trucks.
The automaker announced a $3 billion investment to ramp up truck production, with $2.3 billion earmarked for its Oakville plant in Ontario, Canada.
CEO Jim Farley explained the move: “Super Duty is a vital tool for businesses and people around the world. Even with our Kentucky and Ohio plants running full tilt, we can’t meet the demand.”
The Canadian facility, set to start operations in 2026, will add about 100,000 trucks to Ford’s yearly output.
Breaking: @Ford is scrapping plans to build EVs in Oakville, will instead expand Super Duty production there in 2026.
It still intends to build 3-row EV crossovers in 2027 but has not announced where they will be made.
— Michael Martinez (@MikeMartinez_AN) July 18, 2024
This decision marks a shift from earlier plans to convert the plant into an electric vehicle hub.
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Why the change? It boils down to profits.
Farley recently stated that fully electric versions of large trucks like the Super Duty were “never going to make money.”
This comment sheds light on the challenges carmakers face as they balance the push for electric vehicles with the need for profitable products.
Ford isn’t giving up on electric vehicles entirely.
Mercedes has hit the brakes on their all-EV plan as the electric vehicle market experiences a power outage.
GM also cut EV production targets due to slowing demand and Ford Motor Co. is retrenching its EV strategy.
Moral of the story: You can’t sell cars that people don’t want. pic.twitter.com/E0tsIOLksp
— Stephen Moore (@StephenMoore) May 14, 2024
The company says it plans to “electrify” future Super Duty trucks, though details are limited.
They’ve also pushed back plans for a new electric SUV to 2027.
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By boosting Super Duty production, Ford aims to meet strong demand, especially from commercial customers.
