Ford readies seven-seat electric SUV to boost sales
Seven-seat EV is intended to help Ford stand out in SUV market
Ford boss Jim Farley has confirmed that the company will make a seven-seat electric SUV as it tries to differentiate itself in an EV market that is reaching “overcapacity”. Ford posted losses of $700 million (£558m) for its Model E electric division in the first quarter of this year amid slowing sales for its Mustang Mach-E.
The company broke out EV profitability for the first in March last year as it restructures to better tackle the transition to electric. The losses are greater than the $400m (£318m) recorded for the same period last year.
“We could see the overcapacity in the two-row electric utility segment years ago,” said Farley, referring to the five-seat electric SUV market, which is dominated by the Tesla Model Y.
Ford predicts there will be 45 electric five-seat SUVs in the compact and mid-sized segments on sale in 2025. “We believe we can be highly differentiated in markets where we know the customer well, like the three-row utility space,” said Farley, in reference to seven-seat SUVs. Ford wants to bring new customers on board in the same way that it has with the Mustang Mach-E and F-150 Lightning electric pick-up.
A seven-seat EV is unlikely to be brought to the UK, although Ford has announced that the F-150 Lightning will be sold in Norway.