Asia Tech Wire (Aug 22) -- Ford will cancel plans to produce a large electric SUV due to lower-than-expected demand, a move that is due to generate $1.9 billion in related special charges and write-downs.

The U.S. automaker had said this spring that it would delay the release of its electric three-row SUV by two years, to 2027.

Meanwhile, Ford also delayed the release of a new electric pickup truck by one year, to 2027.

Ford said it would cut capital spending on all-electric vehicles, from 40% of its budget to about 30%.