Ford to spend $3 billion to expand large truck production to a plant previously set for EVs
UBS’ Joseph Spak was among the analysts to applaud the additional investment in the highly profitable Super Duty models compared to money-losing EVs amid slower-than-expected adoption of electric cars and trucks.
“We believe this shows management’s confidence in more sustainable demand for Ford Pro vehicles,” he said Thursday in an investor note. “The [internal combustion engine] investment over EV investment should be viewed positively.”
Ford had previously announced plans to invest $1.3 billion into the Canadian plant for EV production. Those plans included a new three-row SUV, which the company recently delayed until 2027.
The announcement comes weeks after Farley said full electrification of “big, huge, enormous” vehicles such as Ford’s Super Duty trucks was “never going to make money.”
