Get 40% Off
🚀 AI-picked stocks soar in May. PRFT is +55%—in just 16 days! Don’t miss June’s top picks.Unlock full list

Ford mulls offering gas-powered vehicles, hybrids in Europe beyond 2030

Published 05/09/2024, 02:27 PM
Updated 05/09/2024, 02:32 PM
© Reuters. FILE PHOTO: Ford vehicles are displayed at the New York International Auto Show Press Preview, in Manhattan, New York City, U.S., March 27, 2024. REUTERS/David Dee Delgado/File Photo
F
-

(Reuters) - Ford Motor (NYSE:F) is considering offering gas-powered vehicles and hybrids beyond 2030 in Europe, a change from its initial plan for an all-electric lineup in the region, the Detroit automaker said on Thursday.

The company had in 2021 outlined plans for an all electric lineup for Europe by the end of the decade.

"As EV adoption in Europe has slowed, we believe we need to offer our customers ICE (internal combustion engine) and hybrid vehicle options beyond 2030," Ford said in a statement to Reuters.

Ford, which is closely monitoring the situation, said it would adapt as necessary.

Hybrid vehicles, which bridge the gap between gas-powered vehicles and EVs, have experienced a surge in demand over the past year, prompting automakers to scale back on their drive to go electric.

A lack of charging infrastructure in Europe has also deterred some buyers from switching over to EVs.

Still, global automakers are working to shift their gasoline-powered lineups to all electric power eventually, as they come under pressure to cut vehicle emissions.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.