Ford takes $19.5 billion hit
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Ford Abruptly Updates F-150 Lightning
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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.
After confirming plans to end production of the all-electric F-150 Lightning, Ford’s CEO said the $70,000 EV pickup didn’t
Like rival Ram, Ford is getting out of the electric truck market. The battery-powered Ford F-150 Lightning has officially been cancelled after a three-year production run. The nameplate will return on a hybrid model with a range-extender combustion engine.
Ford announced a series of moves in its EV business, pivoting to a hybrid and extended range EV (EREV) strategy instead of full EVs, and will take a whopping $19.5 billion in charges related to the move.
Ford will stop making the fully electric F-150 Lightning and shift to an extended-range version that uses a gas generator.