Ford ditches new EV in major strategy shift amid slowing demand for electric cars
Ford has abruptly cancelled plans to produce a three-row electric SUV, and has delayed building a new EV plant in Tennessee. The pullback marks a major shift for the car company, amid slowing demand for electric cars. Axing the electric SUV and pulling back on its new plant plans could cost the carmaker around $1.9 billion. The manufacturer will also drop its spending on EVs to 30 percent of its annual investment, down from 40 percent.
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