Ford takes $19.5 billion hit
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Ford says it is "following the customer" in discontinuing its large electric pickup, which was well-received but never profitable. Ford will keep the Lightning name alive as a plug-in hybrid.
The Blue Oval announced a major shift in brand strategy. Its future may be more hybrids, plug-in hybrids and EREVs than EVs.
Ford cuts F-150 Lightning production as CEO Jim Farley shifts strategic focus to hybrids and affordable EVs, taking massive $19.5 billion charge.
The operating reality has changed, and we are redeploying capital into higher-return growth opportunities,” Ford CEO Jim Farley said.
1don MSN
Ford scraps fully-electric F-150 Lightning as mounting losses and falling demand hits EV plans
Ford Motor Co. is pivoting away from its once-ambitious electric vehicle plans amid financial losses and waning consumer demand for the vehicles
Ford Motor is keeping the F-150 Lightning, but changing its technology. It plans to add thousands of jobs and enter this new business.
The move comes as a response to the Trump administration’s waning support for electrification and a weakening consumer market.
Four years after Ford bravely electrified its best-selling vehicle, the F-150 Lightning pickup, it seemed ready to drop the model owing to slowing demand. Now, it turns out the company's got other plans.
Ford is reworking its future around what customers are actually buying, stepping away from cost-heavy electric bets that no longer add up.
Ford Motor Co. is pivoting away from its once-ambitious electric vehicle plans amid financial losses and waning consumer demand for the vehicles.
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