Electrive reports that, as per Marin Gjaja, chief operating officer of Ford’s Model E electrification division, the reason is a slowdown in EV adoption, dictated by high prices of batteries and uncertainties surrounding incentives for buying EVs. This is why the American carmaker will continue to offer drivers vehicles they are more willing to purchase, given the circumstances.

Gjaja said in an interview for Autocar that "I don’t think we can go all in on anything until our customers decide they’re all in, and that’s progressing at different rates around the world. We don’t see that going all-electric by 2030 is a good choice for our business or, especially, for our customers."

He added that long-term electrification is still an objective for the company, regardless, but getting the battery prices and chemistries right might take another few decades.

Last year in June, Ford opened its Electric Vehicle Center at the company's factory in Cologne, Germany, after having invested two billion dollars in converting it for EV manufacturing.

Regarding Ford's upcoming plant in Valencia, company officials don't have yet a clear plan as to what will happen with production there, but Gjaja said that the carmaker will develop a multi-energy platform for European models.

"That’s our current thinking, because we think it gives us the best chance of success given the European market and where we are in adoption."

The first Ford vehicle built on that platform could reach the market in 2027 and the annual production capacity could be around 300.000 units.