{"id":76053,"date":"2024-08-22T17:16:24","date_gmt":"2024-08-22T21:16:24","guid":{"rendered":"http:\/\/autosector.com\/?p=76053"},"modified":"2024-08-22T17:16:24","modified_gmt":"2024-08-22T21:16:24","slug":"ford-scraps-3-row-electric-suv-opening-door-for-these-rivals","status":"publish","type":"post","link":"http:\/\/autosector.com\/?p=76053","title":{"rendered":"Ford scraps its three-row electric SUV, opening the door for these rivals to dominate"},"content":{"rendered":"
\n\t\"Ford-three-row-electric-SUV-rivals\"<\/figure>\n

While Ford<\/a> is canceling plans to launch its three-row electric SUV, overseas brands like Kia, Hyundai, and Volvo are looking to take advantage. By scrapping its larger SUV, Ford opened the door for rivals to take control of the segment.<\/p>\n

<\/p>\n

The \u201cpersonal bullet train,\u201d as Doug Field, Ford\u2019s head of EVs, called the three-row electric SUV, is no longer part of the plans.<\/p>\n

Ford announced a drastic <\/a>shake-up<\/a><\/span> to its EV strategy on Wednesday, including canceling plans for its first three-row electric SUV. The American automaker will instead focus on a new family of hybrid models.<\/p>\n

\u201cThe reality is that the market changed,\u201d Marin Gjaja, Ford\u2019s COO, told Reuters<\/a><\/em> on Thursday. Following Ford\u2019s investor day last year, share prices rallied when the model was announced.<\/p>\n

However, with pushed-back EV initiatives and growing losses in the second quarter, Ford\u2019s stock is down nearly 20% over the past month as investors question its direction.<\/p>\n

Gjaja said Ford\u2019s strategy shift shows the automaker is making moves to produce profitable EVs. Ford also announced it will delay the launch of its next-gen pickup. \u201cProject T3\u201d until the second half of 2027, two years later than expected.<\/p>\n

\"Ford-three-row-electric-SUV-rivals\"
Ford Explorer Electric (Source: Ford)<\/figcaption><\/figure>\n

Ford is focusing on its low-cost EV platform. The first model to launch on it will be a more affordable mid-size electric truck in 2027. It will also introduce a \u201cdigitally advanced\u201d electric van in 2026. But will it be enough to fend off overseas rivals?<\/p>\n

Ford cancels three-row electric SUV while rivals step in<\/h2>\n

By scrapping its larger electric SUV, Ford is opening the door for overseas rivals to take over the segment.<\/p>\n

After launching in the US late last year, Kia has sold nearly 11,500 EV9s<\/a> through July, its first three-row electric SUV.<\/p>\n

\"Ford-three-row-electric-SUV-rivals\"
Kia EV9 GT-Line (Source: Kia)<\/figcaption><\/figure>\n

Starting under $55,000, Kia calls the EV9\u2019s price tag a \u201cwake-up call\u201d for the industry. The EV9 was the sixteenth top-selling EV in the US<\/a> in Q2, topping Kia\u2019s Niro and the Nissan Ariya.<\/p>\n

Hyundai, Kia\u2019s sister company, also plans to launch a three-row EV SUV. The IONIQ 9, as it\u2019s expected to be called, will be revealed later this year. Hyundai\u2019s larger electric SUV has been spotted testing in the US several times ahead of its debut (see a video of it here<\/a>).<\/p>\n

\"Hyundai-three-row-electric-SUV\"
Hyundai IONIQ 9 (SEVEN) electric SUV concept (Source: Hyundai)<\/figcaption><\/figure>\n

Hyundai Motor Group, including Kia and Genesis, already topped Ford<\/a> in the second quarter, accounting for 10% of the US electric vehicle market. <\/p>\n

Ford was third with 7.4% of the market, followed by GM at 6.3%, according to data from Motor Intelligence<\/em>.<\/p>\n

Volvo is another brand that\u2019s targeting the three-row electric SUV market. The Swedish automaker expects big results <\/a>from its upcoming EX90, which is scheduled to hit US dealerships later this year.<\/p>\n

\"Volvo-three-row-electric-SUV\"
Volvo EX90 (Source: Volvo)<\/figcaption><\/figure>\n

Volvo and Kia are both building electric SUVs in the US as they look to grab a piece of the market.<\/p>\n

Rival GM is also planning to begin building its three-row Cadillac Escalade IQ SUV. Meanwhile, after upgrading its Normal, IL plant in April, Rivian expects R1S output to pick up in the second half of the year. Rivian\u2019s R1S<\/a> was already the sixth top-selling EV in the US in Q2.<\/p>\n

Will affordable electric cars be Ford\u2019s savior? Or will it be too little too late by then? Let us know your thoughts in the comments.<\/p>\n

\n

FTC: We use income earning auto affiliate links.<\/em> More.<\/a><\/p>\n

\"\"<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

While Ford is canceling plans to launch its three-row electric SUV, overseas brands like Kia, Hyundai, and Volvo are looking to take advantage. By scrapping its larger SUV, Ford opened the door for rivals to take control of the segment. The \u201cpersonal bullet train,\u201d as Doug Field, Ford\u2019s head of EVs, called the three-row electric […]<\/p>\n","protected":false},"author":1,"featured_media":8313,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[4],"tags":[],"class_list":["post-76053","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-e-cars"],"_links":{"self":[{"href":"http:\/\/autosector.com\/index.php?rest_route=\/wp\/v2\/posts\/76053","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/autosector.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/autosector.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/autosector.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/autosector.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=76053"}],"version-history":[{"count":0,"href":"http:\/\/autosector.com\/index.php?rest_route=\/wp\/v2\/posts\/76053\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/autosector.com\/index.php?rest_route=\/wp\/v2\/media\/8313"}],"wp:attachment":[{"href":"http:\/\/autosector.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=76053"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/autosector.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=76053"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/autosector.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=76053"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}