On August 31st, Ford announced that it will discontinue three popular gasoline-powered car models, the Escape, Edge, and Transit Connect, in order to make way for electric vehicles. The automaker plans to halt production of these models to provide more funding for the transition to electric vehicles, which is part of Ford CEO Jim Farley’s plan to revitalize Ford’s leading position in the automotive industry.
The reason why the Ford Edge is being discontinued is because the Oakville plant that produces the model will be retooled to produce a three-row electric SUV. The Transit Connect will only be discontinued in the US market, while it can still be purchased in Europe. The Escape is one of Ford’s most popular models, and there is currently no confirmed date for its discontinuation. There are also no plans yet to produce an electric version of the Escape.
As one of the oldest car companies in the world, Ford has ultimately chosen to abandon the fuel models that brought it a century of glory and turn to the development of electric vehicles. Ford is also one of the most committed traditional automakers in the transition to electric vehicles and one of the most successful companies. It has publicly acknowledged that electric vehicles will be needed to maintain its excellent and sustainable business in the coming decades.
According to Automotive News, Ford plans to discontinue the Escape, Edge, and Transit Connect because its losses in 2023 will exceed expectations. The report states that Ford’s losses will be $4.5 billion more than previously expected.
Ford has increased its investment in electric vehicle production, expanded multiple factories, and allocated billions of dollars to establish an electric vehicle and battery production base in Tennessee. However, the company’s goal of producing 400,000 electric vehicles annually by 2024 has been postponed. Ford also plans to increase this number to five times that amount, or 2 million vehicles, by 2026, but this number is being reassessed.
In fact, Ford is not the first company to fail to meet its annual electric vehicle production goals. Many automakers have set very high goals, but ultimately failed to achieve them because the production and manufacturing process is much more complex than initially imagined. However, Ford still has many advantages in electric vehicles. It plans to launch a new generation of pickups in the coming years, and the F-150 Lightning and Mustang Mach-E are becoming increasingly popular.
