Why Is Ford Letting Its EV Lineup Get Stale? (2024)

Ford posted stellar May sales results for its EV business this week, so why hasn't it expanded its US lineup as competitors churn out new models?

Ford offers two passenger EVs—the Mustang Mach-E and Ford F-150 Lightning—plus the commercial e-Transit van. All three experienced double-digit sales growth in May 2024—up 64.7% from the same time period last year and up 87.8% year-to-date.

Hybrid growth is up double-digits, too, while internal combustion just barely made it in the green, with 0.6% growth year-to-date (though they still make up the bulk of Ford's sales at 163,417 cars sold versus 8,966 EVs). It's good news for the future of zero-emissions vehicles, but it doesn't match Ford's seemingly lukewarm attitude toward EVs these days.

(Credit: Ford)

Where Did the Momentum Go?

Ford led the electrification movement with the launch of the Mustang Mach-E in 2021. It followed with a radical project to electrify America's best-selling pickup, the Ford F-150, and launched the Lightning in 2022. Both are highly rated vehicles, and they've stayed fresh through regular over-the-air software updates. Ford has also launched different trims, like Flash and Platinum Black.

Ford F-150 Lightning dash (Credit: Emily Dreibelbis)

But it's been two years since Ford launched a new EV in the US, and we may be waiting two more years. An electric pickup codenamed "Project T3" announced last year will now launch in 2026 instead of 2025, Car & Driver reports. And Ford's 3-row electric SUV got pushed to 2027.

Meanwhile, the Chevy Silverado and Tesla Cybertruck are hitting US streets, and Kia's EV9 helped it post record EV sales as the nation's first affordable, mass-market, full-size electric SUV, InsideEVs reports.

Across the pond, the first electric Ford Explorer rolled off the line this week, but there are currently no plans to release it in the US; Ford has not said why. Instead, EV shoppers in the US may opt for the many other electric SUVs launching for the 2024 model year, such as the Volvo EX30, Hyundai Kona Electric, 2024 Jeep Wagoneer S, Acura ZDX, or Honda Prologue.

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Billion-Dollar EV Investments Behind the Scenes

US drivers may only get new EV models after Ford finishes its multi-billion dollar EV manufacturing and battery facilities: BlueOval City in Tennessee, a battery plant in Kentucky, and the BlueOval Battery Park in Michigan. They promise more efficient manufacturing, better batteries, and likely a better bottom line for Ford, which lost $130,000 for every EV it sold in Q1, Car & Driver reports.

Mustang Mach-E (Credit: Emily Dreibelbis)

Until then, Ford has pursued other investments. It was the first carmaker to commit to the NACS charger (the rest of the industry soon followed) and gain access to Tesla's Supercharger network. CEO Jim Farley says the company has also spun up an internal "skunkworks" project to develop sub-$25,000 EVs, as first reported by TechCrunch. However, truly affordable EVs have evaded manufacturers like GM, Honda, and Tesla, which have all pushed back or scrapped plans to build them. These days, there are fewer low-cost electric options on the market than a few years ago.

To the dismay of environmentalists, Ford seems to have found new enthusiasm for hybrids in the short term instead of launching new EVs. Hybrids are still gas vehicles, though certainly an improvement in terms of emissions.

"The company continues to invest in a broad set of EV programs as it works to build a full EV line-up," Ford said in April. "In parallel, Ford is expanding its hybrid electric vehicle offerings. By the end of the decade, the company expects to offer hybrid powertrains across its entire Ford Blue lineup in North America."

Ford isn't alone here, as Toyota has also endorsed a hybrid-first approach and recently announced it will develop next-gen gas engines. Former President Donald Trump has also chimed in as a pro-hybrid voice (after telling EV supporters to "rot in hell" in a Christmas Day social media post.)

While we can debate the merits of hybrids over EVs, it's clear Ford has shifted its priorities. The question is whether a slowdown in all-electric launches will create an opening for competitors. Or is Ford quietly getting its house in order to blow rivals out of the water when the time is right?