Ford CEO Jim Farley has announced a major shift in the company’s electric vehicle (EV) strategy, delaying the launch of its electric pickup and van models to 2028.

Speaking on Varney & Co., Farley explained that the move is part of a broader effort to adopt a leaner EV approach, reduce production costs, and focus on producing more affordable models while supporting U.S. manufacturing.

Farley emphasized that the delay will allow Ford to refine its EV technology, strengthen supply chains, and ensure profitability in an increasingly competitive market. “This is about building EVs the right way — efficiently, affordably, and in America,” he said.

The decision comes amid shifting market dynamics in the EV sector, as automakers balance consumer demand, production challenges, and the push for domestic manufacturing.