Ford Motor Company has unveiled its ambition to ramp up the share of hybrid, extended - range electric, and pure electric vehicles in its global sales portfolio. The target is to reach around 50% by 2030, a significant leap from the current 17%. This strategic shift comes as Ford recalibrates its approach to zero in on market opportunities that promise higher returns.

The commercial viability of certain large - scale electric vehicles has taken a hit. This is due to a confluence of factors: demand falling short of projections, soaring costs, and evolving regulatory policies. Consequently, Ford has made the tough call to halt the production of these models. As part of its efforts to streamline its electric vehicle - related assets and product development blueprint in the United States, Ford anticipates logging special items amounting to roughly $19.5 billion. The bulk of these charges are expected to be accounted for in the fourth quarter.