Ford is discontinuing three gasoline models to accommodate new electric vehicles. Three gasoline-powered Ford models are being retired as the Blue Oval brand makes way for new electric vehicles. The move comes as the American automaker plans to create a next-generation electric vehicle platform that should spawn a new generation of Ford electric vehicles.

According to Automotive News, we are talking about gasoline Ford Escape, Edge and Transit Connect. The news comes after the last Ford Fiesta rolled off production lines last month after 47 years and eight generations. Ford has stopped production of the Fiesta to make room at its plant in Cologne, Germany, to build the new electric Explorer.

In March, Ford introduced the all-electric Explorer SUV with a starting price of less than $50,000. However, it was only released in Europe. During Ford's Capital Market Day, Farley detailed the new three-row electric SUV with long range and a spacious interior. The brand expects the new electric SUV and electric pickup truck to help increase its share in key markets.

Ford already offers the F-150 Lightning, Mustang Mach-E and E-Transit electric vans in the US, but the company has run into trouble this year. During the second-quarter earnings call, Farley announced, "In the near term, the pace of adoption of electric vehicles will be a little slower than expected," delaying the company's 600,000-vehicle goal until next year. The automaker has also delayed the launch of the electric Explorer in Europe until next summer.

Meanwhile, Farley added that the slowdown "will benefit early players like Ford." The company believes its second-generation products will significantly improve profitability while streamlining production.