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29 August 2023
BY
Kirk O'Neil
Ford retires gas-powered cars in
electric vehicle expansion
Legacy automobile companies that have been producing internal
combustion engine vehicles for decades have been addicted to their
gas-powered models as electric vehicles began to make their mark over
the past dozen or so years. Those companies have slowly begun to make
commitments to transition to all-electric, but some have been changing
at a snail's pace.
General Motors (GM)
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Free Report rolled out its Chevy Spark EV in 2013 before
launching its popular Chevy Bolt EV in 2015. The Spark departed the
U.S. market in 2022. Chevy Bolt became the second best-selling
electric vehicle behind the Tesla Model S when it was launched in
2017, but in April 2023, GM said it would discontinue the Bolt. But
GM's CEO Mary Barra subsequently said in June that it might bring back
the Bolt.
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luxury rival Volvo unveils relaxing premium electric model
GM, however, might be getting more serious about transitioning to
all-electric, as it in March said that it would discontinued
the Chevy Camaro gasoline-powered car at the end of the 2024 model
year.
Nissan (NSANY) had
already established the Leaf as a top selling EV after it was launched
in 2010, but Tesla's Model S in
2015 knocked the Leaf off the top spot. The Japanese company has
said it will phase out the Leaf in the next few years and replace it
with a new vehicle by 2026.
Nissan launched its Ariya Crossover/SUV last year hoping it would
begin its ramp up of EV production. It also recently unveiled three
new models, including its next-generation Leaf crossover coupe that
would replace its hatchback model that will be discontinued. It also
previewed a performance sedan that could replace its internal
combustion engine vehicle Maxima, as well as an electric crossover SUV
built on the Ariya dedicated CMF-EV platform
Tesla (TSLA)
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Free Report hasn't looked back in its quest for EV
dominance as its Model Y sports utility vehicle was the world's
best-selling car with about 267,200 vehicles sold in the first three
months of the year and continued leading the pack into May, after knocking
the previous sales leader Toyota Corolla of its top spot.
Of course, the Corolla is an ICE vehicle, and Toyota (TM)
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Free Report has not said whether it will consider
transitioning the Corolla to an EV. It's also well known that Toyota
has been slow to enter the EV market. It wasn't until April that the
Japanese car maker committed to the all-electric vehicle market,
saying that it will launch 10 new EVs by 2026.
Stellantis eliminates gas models, adds electric
Stellantis (STLA)
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Free Report has been making its move into the EV market and
made a huge statement in March 2023 when it said it would discontinue
its classic gas-powered V-8 muscle cars, the Dodge Challenger and
Charger, as well as its Chrysler 300 big sedan by the end of the year.
The company recently said it would unveil a second new entry-level
Fiat-branded electric vehicle in July 2024 that will be priced at
about $27,390. The automaker didn't say when the vehicle might be sold
in the U.S.
Stellantis previously said it would bring Fiat's best-selling EV, the
Fiat 500e, to the U.S. market in 2024. In June the company said it
will deliver the new Citroën e-C3 electric car to the U.S. in early
2024 that will be priced at about $27,000.
2023 Ford Escape ST Line Elite Ford
Discontinuing Ford ICE models
In March 2023, Ford F said it would discontinue the Transit Connect
ICE vehicle in North America at the end of 2023, Automotive News
reported, and the company has since added the Escape and Edge ICE
vehicles to its list of discontinued vehicles at the end of this year.
Ford's Fiesta already made its exit in Europe this year. With these
vehicles disappearing, Ford plans to produce more EVs in its
transition to all-electric.
Ford was the No. 2 seller of EVs in the U.S. with three models, F-150,
Mustang Mach-E and E-Transit electric van, but was overtaken by GM in
the first quarter of 2023. Ford, however, is getting ready to begin
production of its new all-electric Explorer SUV in Europe. Ford's CEO
Jim Farley has hinted that it might sell the vehicle in the U.S.
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