Ford Is Shifting To Hybrid Technologies For Future Three-Row SUVs, Leading To A $400M Non-Cash Charge For Discontinuing All-Electric SUV Plans And Potentially Incurring Up To $1.5B In Additional Expenses, To Be Reported As A Special Item In The Quarter They Occur

Author: Benzinga Newsdesk | August 21, 2024 09:38am

In addition to adjusting the cadence of product launches and realigning battery sourcing, Ford now plans to leverage hybrid technologies for its next three-row SUVs. As a result of this decision, the company will take a special non-cash charge of about $400 million for the write-down of certain product-specific manufacturing assets for the previously planned all-electric three-row SUVs, which Ford will no longer produce. These actions may also result in additional expenses and cash expenditures of up to $1.5 billion and the company will reflect those in the quarter in which they are incurred, as a special item.

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