1. Adjustments to EV Lineup:

   - Ford has made several adjustments to its EV lineup due to slower-than-expected transition to EVs in North America.

   - The company canceled plans for a three-row electric utility vehicle that was expected to be built in Oakville, Ontario.

   - Instead, Ford will employ some of the technology from this canceled SUV for a hybrid offering.

   - The production of a new "next-generation" EV pickup truck has been pushed back to the second half of 2027 (previously expected in 2025).

   - Ford also announced plans for a more affordably priced midsized EV pickup, set to launch in 2027.

   - Additionally, Ford intends to produce a new EV commercial van starting in 2026.

2. Financial Impact:

   - These adjustments will result in around $1.9 billion in cost hits to Ford's earnings.

   - The company faced challenges with costly production ramp-ups amid demand uncertainty, leading to a $2.5 billion loss in its EV business during the first half of 2024.

3. CEO's Perspective

   - Ford's Chief Executive, Jim Farley, emphasized that the company has learned from its EV business and aims to provide customers with maximum choice.