Due to lower than expected demand, Ford Motor Company will cancel its plan to produce large electric SUVs, which is expected to result in $1.9 billion in related special expenses and write offs. The company announced this spring that it would postpone the release plan of its electric three row SUV by two years, until 2027. Meanwhile, Ford has postponed the release of its new electric pickup truck by one year, until 2027. In addition, Ford Motor Company has stated that it will reduce capital expenditures on pure electric vehicles from 40% of the budget to around 30%.