Ford delays launch of next-gen F-150 Lightning and E-Transit EV to 2028
Ford informed suppliers and employees in June that a full-size electric pickup, which is to be the successor to the F-150 Lightning, will be delayed to 2028, a company spokesman told the Detroit Free Press, part of the USA TODAY Network, on Aug. 8. That's a delay of a few months longer than the initial delay set for late 2027. Prototypes for that vehicle will still launch in 2027. Ford plans to make that vehicle at its BlueOval City Assembly Plant in Tennessee.
Additionally, Ford is delaying production of its E-transit van, to be built at its Ohio Assembly Plant in Avon Lake, Ohio, from 2026 to 2028.
'F-150 Lightning, America's best-selling electric truck, and E-Transit continue to meet today's customer needs," Ford spokesman Ian Thibodeau said in a statement. "We remain focused on delivering our Ford+ plan and will be nimble in adjusting our product launch timing to meet market needs and customer demand while targeting improved profitability.'
This is not the first time Ford has shifted its EV strategy, and it won't be the last. Ford's EV lineup consists of the Mustang Mach-E, F-150 Lightning and E-Transit EV. CEO Jim Farley teased the announcement as being "a Model T moment" for the company, a reference to Ford's historic early car that helped build the 120-year company into a mass-market carmaker.
Ford, which leads the industry in recalls, has yet to make money on its EV sales. In fact, Ford has projected it will lose up to $5.5 billion in its EV and software operations for 2025. In the second quarter, Ford reported its Model e electric vehicle unit lost $1.3 billion in the quarter, a wider loss than the $1.1 billion it lost in the year-ago period.
Farley has said Ford needs to look at the Chinese car companies as its main competitors going forward in the EV space. As the Free Press reported in June, Farley and Ford's executive leadership team went to China earlier this year with an agenda: to study every aspect of how Chinese auto companies operate, then apply those lessons across Ford in its other markets.
That's because Chinese automakers have been driving down costs on EV production, selling high-quality, well-designed EVs at affordable prices in Europe and Asia. Ford and other automakers are now focused on also producing lower-cost, smaller EV models using cheaper-to-make batteries that sit on a streamlined platform.
Automotive News was first to report the extension of the delays. The Detroit Free Press first reported Ford's initial move to delay the EV launches in August 2024. Ford said at that time that it is changing its EV strategy, canceling plans for an all-electric three-row SUV and delaying the launch of a full-size EV pickup.
At that time Ford said it was making those changes so that it could prioritize the introduction of a new, all-electric commercial van in 2026 (now delayed to 2028). Then, a more affordable midsize EV pickup and the full-size pickup would launch in 2027 — an initial delay of about 18 months from the original plans.
Jamie L. LaReau is the senior autos writer who covers Ford Motor Co. for the Detroit Free Press. Contact Jamie at jlareau@freepress.com. Follow her on Twitter @jlareauan. To sign up for our autos newsletter. Become a subscriber.
This article originally appeared on Detroit Free Press: Ford delays launch of 2 new EVs to 2028
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Forbes
a few seconds ago
- Forbes
Apple iOS 18.6.1 Surprise iPhone Software: Should You Upgrade?
If you'd thought that we'd seen the last of iOS 18 with the recent release of iOS 18.6, you wouldn't have been alone. But Apple has released a new update that specifically brings back a missing feature to millions of Apple Watches. This post has the initial thoughts on the new release and I'll be updating this post over the coming week and will make a final assessment on Friday, Aug. 8. Who Is It For And How Do You Get It? Apple iOS 18.6.1 is compatible with all iPhones from 2018 on. That's the iPhone XS, iPhone XS Plus and iPhone XR models and every phone since. That means the iPhone 11 series, iPhone 12, iPhone 13 and so on right up to the iPhone 16 series, plus the second- and third-generation iPhone SE models as well as the iPhone 16e. If you have any of these phones except the first three, iPhone XS, iPhone XS Plus and iPhone XR, they will work with iOS 26. To update, find the iPhone's Settings app, click on General, then Software Update. Then, choose Download and Install, and the software will download from there. This is a medium download, around 720MB, but it should be reasonably quick to install. What It's About This update, though is recommended for all users, is specifically to introduce a benefit for millions of Apple Watch users. A patent dispute between Apple and medical equipment company Masimo led to the blood oxygen monitoring feature on U.S.-sold Apple Watch Series 9 and Apple Watch Ultra 2 to be disabled. It never appeared on Apple Watch Series 10 models sold in the States. The software update means all compatible Apple Watches sold anywhere to have the feature again, once this update and a watchOS 11.6.1 update are installed. It's essentially a workaround: you still activate the Blood Oxygen app on your Apple Watch, but it now transmits data to the iPhone where it is calculated and analyzed, with the result found in the Health app under the Respiratory section. Compatible Apple Watches comprise Series 7, Series 8, Series 9, Apple Watch Ultra and Apple Watch Ultra 2. You can read more about the blood oxygen feature's return here. Apple iOS 18.6.1 Security No, there are no security features in this update, Apple says. Mind you, there were more than 20 in the last one, and that was scarcely more than two weeks ago, so perhaps that's no surprise. Initial Reactions Some users have reported a snappier performance on their iPhones though nobody has said it introduced new problems, I believe. One Redditor said their iPad now had a blank screen, but to be clear there hasn't been an iPad update. Apple iOS 18.6.1 Initial Verdict: Update If you are in the U.S. and have an Apple Watch or are going to get one in the future, this is a no-brainer. For the rest of us, go ahead, there's no harm here and maybe you'll find a snappier iPhone as a result. If you have an Apple Watch, don't forget to install watchOS 11.6.1 as well. Final verdict next week.
Bloomberg
31 minutes ago
- Bloomberg
Odd Lots: Housing Is a Problem Even in a State With Declining Population
You can kind of understand why it's so hard to build housing in New York City. There isn't much available land. It's already pretty built up. And then, add in the fact that so many people want to live in New York, and you can understand why it's so expensive. But what's the deal with Alaska? There seems to be plenty of land. And population has actually been in a a general state of decline. And yet, housing remains strained, with many of the same affordability problems seen elsewhere in the country. So what are the specific challenging dynamics to be overcome? On this episode, we speak with Jimmy Ord, Daniel Delfino, and Stacy Barnes of the Alaska Housing Finance Corporation to understand the challenges they face, and the work they do to ease the strain. We get into both the specific logistical, political, and financial tools available to reduce pressure.
Yahoo
38 minutes ago
- Yahoo
Make your money work for you by ‘laddering' bonds or CDs
If you have a lot of cash on hand, it should be making money for you. One way to ensure it continuously does that is to set up a ladder of Treasuries or FDIC-insured certificates of deposit with staggered maturities (eg, 1 year, 2 years, 3 years, etc.). When a ladder might make sense A laddering strategy can offer low-risk, predictable returns that will help you keep up with — or beat — inflation, while protecting your money during volatile markets and helping you meet your near- and intermediate-term goals. 'Which ladder works for you depends on your needs,' said Collin Martin, a fixed income strategist at Schwab Center for Financial Research. For example, ladders can be useful if you want to: Preserve purchasing power: A fixed income ladder can help if your main concern for a given sum of money is to protect the principal and not let inflation devalue it. Rhode-Island based certified financial planner Sue Gardiner had a client whose goal was to preserve capital and protect purchasing power of money going to beneficiaries of an inherited IRA that had to be fully distributed within 10 years. 'So we used TIPS (Treasury Inflation-Protected Securities) to hedge inflation, but balanced them with Treasuries and brokered CDs to lock in competitive yields and keep annual liquidity,' she said. 'The ladder was designed so each year's withdrawal is funded by maturing securities.' Pay off debt: If you have credit card debt and can secure a zero-rate balance transfer card — which lets you pay off your debt interest free for up to 21 months — a ladder of CDs or bonds can generate additional income to help clear your balance. Say you have $100,000 from the sale of a house or an inheritance. If you don't already have an emergency fund, set aside some of the money into a high-yield FDIC-insured online savings account or a money market fund. Then split the rest evenly across the number of 'rungs' in the ladder you choose. For instance, a three-month CD or Treasury, another one maturing in six months and a third one maturing in a year. As a CD or Treasury comes due, direct the income it throws off plus some or all of the principal to pay down your 0% credit card debt, Gardiner suggested. Grow savings for a specific end dat e: Or, say you want to have enough money to make a down payment on a home in five years. 'If the goal has a finite date, ladder the strategy so all the money is available for the down payment [on that date],' Gardiner said. Set up a cash flow stream: If you're about to retire but won't claim Social Security for a few years, you might consider a laddered bonds strategy to provide a steady income stream between now and then or even for longer. 'It provides stability and predictability while bridging the gap until larger income sources like Social Security kick in, or to create a predictable foundation while other assets are positioned for growth,' Wade Pfau, founder of the site Retirement Researcher, wrote in an article about bond laddering. 'As one (bond) matures, the principal is returned and can be reinvested or spent, depending on your needs at that time.' Questions to ask To set up a laddering strategy that works for you, consider these questions: How long before I need the money? Be very clear what your liquidity needs will be for the money you're investing. Once a ladder of investments with staggering maturities is set up, if you tap any before they come due, you may have to pay a penalty in the case of CDs that you buy directly from a bank; or you might lose some of your principal if you're selling a bond (or a CD purchased through a brokerage) when you sell it back into the secondary market. 'Make sure you match up maturities of those holdings with what your time horizon is. You don't want to suddenly need all of it and be forced to sell at a loss,' Martin said. Also know that any investment on your ladder that is labeled 'callable' means the issuer can recall it and pay you back your principal before the instrument comes due, plus any income owed up until that point. So ideally, you will only invest in non-callable CDs or bonds, otherwise you might need to reinvest it sooner than you think. Does it make more sense to invest in CDs or bonds? What you'll net after taxes from your investment is a key consideration. The income you earn from a CD is taxable at the federal, state and local level. If you invest in Treasuries, the income is exempt from state and local taxes. So if you live in a high-tax area, they may be a better bet. But if you live in a state with no income tax or very low income taxes and the yield on a CD is better than a bond of similar duration, the CD may be your better bet. Do I want to manage the ladder myself? If you're setting up a ladder of CDs or Treasuries for a one-time, date-certain purpose and your plan is to use the money as it comes due, that might be the simplest thing for you to set up and manage. But if your plan is to use a ladder on an ongoing basis for income, that will mean you have to keep track of everything and be proactive about reinvesting your money whenever it comes due to maximize your income potential. Alternatively, there are now some ETFs that ladder bonds, which can do the work for you if they're structured in a way that meets your goals. If you're building you own ladder, your brokerage may offer model laddering strategies that will help you set one up and then can automatically do the reinvesting for you if you choose. If, however, you're considering laddering municipal bonds for their tax advantages or corporate bonds to maximize yield, you might consult a fixed income adviser or have an investment professional manage your ladder for you because those instruments require a little more research to make sure you're getting the risk-reward trade-off. 'You don't want to blindly invest in those,' Martin said.
