Ford scales back EV ambitions at a cost of €1.7bn

Carmaker has forecast that its electric car unit will lose as much as $5.5bn this year

The American company also cancelled plans for a fully electric SUV and delayed plans for an electric pickup. 

Car manufacturer Ford is recalibrating its electrification strategy yet again, cancelling plans for a fully electric sport utility vehicle in a shift that may cost the carmaker around $1.9bn (€1.7bn).

In addition to scrapping an all-electric three-row SUV that had already been delayed, Ford will further postpone a next-generation electric pickup and reduce spending on electric cars to 30% of its annual capital expenditures, from about 40% previously.