Ford's $5 Billion EV Loss Sparks Strategic Shift Towards Hybrids

The trend of legacy automakers ditching their plans and investments in EVs continues, with Ford reportedly the latest to cancel plans for a large three-row electric sport-utility vehicle, according to a new report from the Wall Street Journal. The company will take $1.9 billion in related special charges and write-downs as a result, the report said.  Ford is canceling due to pricing pressures and increased competition, instead opting to focus on hybrid versions of its popular Explorer and Expedition models. This decision reflects a broader…