Ford Motor Company announced a major shift in its EV strategy on Wednesday, scrapping plans to build an all-electric three-row SUV as consumers remain concerned about the cost and range of the electric vehicles.
The Dearborn, Michigan car maker said it intends to prioritise hybrid vehicles for its next three-row SUVs, along with an electric commercial van in 2026 and two electric pickup trucks in 2027. Ford said it will take a special non-cash charge of about $400 million for the write-down of certain assets of the previously planned electric three-row SUVs. The car maker said the actions could results in additional expenses and cash expenditures of up to $1.5 billion.
The US company is the latest car maker to scale back its EV strategy as consumers – concerned about road range and cost – are slower to adapt to EVs than executives had anticipated. GM, Volkswagen and others previously announced delays or reductions in their plans.
Ford said cost-conscious vehicle consumers and a more competitive market have amplified price pressures, which “underscore the necessity of a globally competitive cost structure”.
“With pricing and margin compression, we’ve made the decision to adjust our product and technology road map and industrial footprint to meet our goal of reaching positive Ebit [earnings before interest and taxes] within the first 12 months of launch for all new models,” Ford president and chief executive Jim Farley said.
The company said its mix of capital spending dedicated to pure electric vehicles will decline from 40 per cent to 30 per cent.
“We learnt a lot as the No. 2 US electric vehicle brand about what customers want and value, and what it takes to match the best in the world with cost-efficient design, and we have built a plan that gives our customers maximum choice and plays to our strengths,” Mr Farley said.
Ford is also delaying the launch of its next electric pickup truck – named “Project T3" – to the second half of 2027. The successor to its best-selling EV pickup truck the F-150 Lightning, Ford said the retiming will allow the company to use lower-cost battery technology. The vehicle will be produced at Ford's Tennessee plant. Ford is also developing a mid-size pickup truck designed by its “skunkworks” team in California.
In addition, Ford announced changes on the sources of its EV batteries, including moving the production of some Mustang Mach-E battery production from Poland to Michigan next year to qualify for benefits under President Joe Biden's Inflation Reduction Act.
Ford is expected to provide an update on “electrification, technology, profitability and capital requirements” in the first half of 2025.
German intelligence warnings
- 2002: "Hezbollah supporters feared becoming a target of security services because of the effects of [9/11] ... discussions on Hezbollah policy moved from mosques into smaller circles in private homes." Supporters in Germany: 800
- 2013: "Financial and logistical support from Germany for Hezbollah in Lebanon supports the armed struggle against Israel ... Hezbollah supporters in Germany hold back from actions that would gain publicity." Supporters in Germany: 950
- 2023: "It must be reckoned with that Hezbollah will continue to plan terrorist actions outside the Middle East against Israel or Israeli interests." Supporters in Germany: 1,250
Source: Federal Office for the Protection of the Constitution
Red flags
- Promises of high, fixed or 'guaranteed' returns.
- Unregulated structured products or complex investments often used to bypass traditional safeguards.
- Lack of clear information, vague language, no access to audited financials.
- Overseas companies targeting investors in other jurisdictions - this can make legal recovery difficult.
- Hard-selling tactics - creating urgency, offering 'exclusive' deals.
Courtesy: Carol Glynn, founder of Conscious Finance Coaching
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10 tips for entry-level job seekers
- Have an up-to-date, professional LinkedIn profile. If you don’t have a LinkedIn account, set one up today. Avoid poor-quality profile pictures with distracting backgrounds. Include a professional summary and begin to grow your network.
- Keep track of the job trends in your sector through the news. Apply for job alerts at your dream organisations and the types of jobs you want – LinkedIn uses AI to share similar relevant jobs based on your selections.
- Double check that you’ve highlighted relevant skills on your resume and LinkedIn profile.
- For most entry-level jobs, your resume will first be filtered by an applicant tracking system for keywords. Look closely at the description of the job you are applying for and mirror the language as much as possible (while being honest and accurate about your skills and experience).
- Keep your CV professional and in a simple format – make sure you tailor your cover letter and application to the company and role.
- Go online and look for details on job specifications for your target position. Make a list of skills required and set yourself some learning goals to tick off all the necessary skills one by one.
- Don’t be afraid to reach outside your immediate friends and family to other acquaintances and let them know you are looking for new opportunities.
- Make sure you’ve set your LinkedIn profile to signal that you are “open to opportunities”. Also be sure to use LinkedIn to search for people who are still actively hiring by searching for those that have the headline “I’m hiring” or “We’re hiring” in their profile.
- Prepare for online interviews using mock interview tools. Even before landing interviews, it can be useful to start practising.
- Be professional and patient. Always be professional with whoever you are interacting with throughout your search process, this will be remembered. You need to be patient, dedicated and not give up on your search. Candidates need to make sure they are following up appropriately for roles they have applied.
Arda Atalay, head of Mena private sector at LinkedIn Talent Solutions, Rudy Bier, managing partner of Kinetic Business Solutions and Ben Kinerman Daltrey, co-founder of KinFitz
Why are asylum seekers being housed in hotels?
The number of asylum applications in the UK has reached a new record high, driven by those illegally entering the country in small boats crossing the English Channel.
A total of 111,084 people applied for asylum in the UK in the year to June 2025, the highest number for any 12-month period since current records began in 2001.
Asylum seekers and their families can be housed in temporary accommodation while their claim is assessed.
The Home Office provides the accommodation, meaning asylum seekers cannot choose where they live.
When there is not enough housing, the Home Office can move people to hotels or large sites like former military bases.
