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Ford Supports Hybrids Despite Losing Billions On EVs

Ford Supports Hybrids Despite Losing Billions On EVs
A large number of new hybrid cars are being developed by Ford Motor.
"You're going to see a lot more hybrid systems from us," CEO Jim Farley said on Thursday after the business disclosed second-quarter earnings that showed expanding losses on its electric car unit.
The remarks go against the Detroit automakers' recent message, which has praised the performance and appeal of all-electric favourites as the industry works to reach EV ambitions. The global leader in hybrid technology Toyota, which has come under fire for what some have perceived as opposition to the shift to EVs, is more in line with the hybrid craze.
To be clear, Ford is not abandoning its highly publicised EV drive, despite the fact that it warned on Thursday that the ramp-up of its EV fleet would take longer than expected.
Due to the popularity of its present gasoline-electric options, it plans to market more hybrid options even as it spends billions to increase EV production.
During Ford's second-quarter earnings call, Farley stated, "We have been surprised, frankly, at the popularity of hybrid systems for F-150." According to Farley, more over 10% of F-150 pickup buyers choose the hybrid model, and that number has been rising.
Ford furthermore provides a hybrid model of their compact Maverick truck. This has been an even bigger success, according to Farley, with 56% of Maverick purchasers opting for the $1,500 optional hybrid powertrain over the four-cylinder engine as standard.
But with the industry making such a major push towards pure EVs, why would it make more hybrids?
“What the customer really likes is when we take a hybrid system that’s more efficient for certain duty cycles and then we add new capabilities because of the batteries,” Farley said.
Ford's 'Pro Power Onboard' system, which enables users to use the truck's energy via outlets in the pickup bed to power tools at a labour site or a refrigerator at a tailgate party, is one of those new features. This eliminates the need to transport a separate generator.
Many customers, according to Farley, "like that combination of using the batteries for something other than just moving the vehicle." Therefore, we are only paying attention to the market.
The battery-powered F-150 Lightning pickup from Ford, which can supply enough energy to run an entire house for several days, has been aggressively touted.
It's possible that Ford has concluded after hearing from consumers that this capacity is more popular than their desire to switch to all-electric vehicles.
Executives remarked on Thursday that the adoption of EVs is happening more slowly than anticipated.
Ford can therefore provide an interim solution for drivers who want power but are scared about EVs by including hybrid models in its internal combustion lineup.
“But don’t think of them in the traditional sense of an Escape hybrid or a [Toyota] Prius,” Farley said. “They’re probably going to come to light differently than most people think.”
“And customers like that.”

Christopher J. Mitchell

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