Ford announced a delay in launching new three-row electric vehicles in Ontario

Despite reporting a significant increase in U.S. first-quarter EV and hybrid sales, Ford anticipates a substantial loss of at least $5 billion in its Model EV division for 2024, even after slashing $12 billion in planned EV investments. Automaker executives acknowledged a mistake in the EV adoption timeline due to unforeseen challenges such as the global microchip shortage and limited inventories and lack of sales.