Ford is backing away from its planned all-electric three-row SUV.
The automaker said Wednesday that it will not produce the vehicle, and instead "now plans to leverage hybrid technologies for its next three-row SUVs."
The cancelation of the SUV will result in a roughly $400 million write-down of "certain product-specific manufacturing assets," according to the company.
Ford in April pushed its launch back from 2025 to 2027.
Its cancellation came as part of a wider update to Ford’s electrification strategy that the company said will involve altering its North American vehicle roadmap and other measures.
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Overall, Ford said it was "taking additional actions to deliver a profitable, capital efficient and growing electric vehicle business and add even more propulsion choices for customers that generate lower CO2 emissions."
Some of the changes to its vehicle roadmap include targeting bringing a new all-electric commercial van to the market in 2026 and a pair of electric pickup trucks in the year after that.
Ford said it will incorporate its new affordable electric vehicle platform into the mid-sized pickup it has planned for 2027. Meanwhile, its next-generation "Project T3" truck will now come out in the latter half of that year, according to the automaker.
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"We’re committed to creating long-term value by building a competitive and profitable business," Ford CFO John Lawler said in a statement. "With pricing and margin compression, we’ve made the decision to adjust our product and technology roadmap and industrial footprint to meet our goal of reaching positive EBIT within the first 12 months of launch for all new models."
