Ford Cuts F-150 Lightning EV Production in Half to Meet Demand

Ford is reducing the production plans for its F-150 Lightning EV pickup due to lower customer demand. The automaker initially aimed to produce 150,000 vehicles per year but has now informed suppliers that it will only assemble around 1,600 Lightnings per week, half of the original goal. This decision comes as consumers hesitate to pay higher prices for EVs and face increased financing costs. Despite reporting record sales in November, Ford's reduced production target may not meet the growing competition in the EV truck market. Ford is still targeting an 8% EBIT margin for its EV business by 2026 and is banking on improvements in its current EV models and the launch of second-generation EVs to drive profitability.