Ford faces $19.5B loss, cancels F-150 Lightning, shifts to hybrids
TL;DR Summary
Ford is shifting its strategy from fully electric vehicles to focus more on hybrids and energy storage, dropping the all-electric F-150 Lightning and reassigning its EV investments, resulting in nearly $20 billion in charges through 2027. The move aims to align with customer demand for affordable, versatile vehicles and adapt to changing regulations, with plans to make 50% of its global volume hybrids or extended-range EVs by 2030, and to profitably develop its EV business by 2029.
- Ford pivoting to hybrids and dropping all-electric F-150, sees $20B in charges Axios
- Ford pulls the plug on the all-electric F-150 Lightning pickup truck NPR
- Ford Will Take $19.5 Billion Hit as It Rolls Back E.V. Plans The New York Times
- Ford takes $19.5B charge in hybrid pivot, cancels F-150 Lightning EV, launches new battery storage business Yahoo Finance
- Ford takes $19.5 billion hit as it pulls back on electric vehicle plans, halts F-150 Lightning production CNN
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