TECH - Ford Plans To Double Production Of F-150 Hybrid Amid Sluggish EV Sales | Benzinga
Ford Motor Co. (NYSE:F) announced plans to double the production of its F-150 hybrid pickup truck, reacting to slower-than-anticipated sales of its all-electric vehicles. The decision arrived amid potential UAW strike threats that could disrupt production in U.S factories, CNBC reported.
Ford is aiming to ramp up sales of the V-6 hybrid model during the 2024 model year to about 20% in the U.S. However, specific production figures were not disclosed.
The move follows Ford CEO Jim Farley‘s statement in late July, outlining the company’s plan to quadruple the production of gas-electric hybrids while increasing EV production at a slower pace than previously announced.
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Furthermore, the company is optimistic about the F-150 hybrid’s market potential. Kumar Galhotra, president of Ford’s traditional ...