Ford has ceased production of its all-electric F-150 Lightning truck due to lack of profitability and declining consumer demand, signaling a potential slowdown in the shift toward electric vehicles in the US, especially as government incentives diminish and consumer preferences favor more affordable options. Ford plans to focus on more profitable vehicle segments and introduce a smaller, more affordable electric pickup in the future.
Ford's significant investment in an electric 'truck of the future' resulted in a $19.5 billion writedown, highlighting the financial risks associated with pioneering electric vehicle technology.
Toyota is launching the ninth-generation Hilux in 2026, featuring a fully electric version alongside traditional diesel and gasoline options, with significant design and tech updates, including a new interior, modern styling, and advanced safety features, primarily for the European market.
Ram has canceled its fully electric Ram 1500 REV project due to declining demand for full-size electric trucks in North America, but will rebrand its hybrid Ramcharger as the new Ram 1500 REV, while also reintroducing the V-8 engine in its trucks amid shifting EV strategies across automakers.
Ford's CEO Jim Farley announced a $2 billion investment to overhaul its Louisville assembly line, aiming to produce a $30,000 midsize EV truck by 2027, as part of a broader strategy to compete with Chinese EV maker BYD and Big Tech companies, emphasizing cost reduction and innovative manufacturing to regain market competitiveness.
At the Goodwood Festival of Speed, Ford's electric F-150 Lightning SuperTruck, driven by Romain Dumas, set a record time of 43.23 seconds on the hillclimb, outperforming hypercars and other high-performance vehicles, while Koenigsegg's Sadair’s Spear broke the production car record with a 47.14-second run.
Slate's affordable electric truck's price has increased from under $20,000 to the mid-$20,000 range, likely due to the elimination of the clean vehicle credit, making it less competitive compared to other pickups like the Ford Maverick. The truck features a rear-mounted motor, various battery options, and a range of up to 240 miles.
Ford has paused shipments of the 2024 F-150 Lightning electric truck for quality inspections, with no specified timeline for resuming shipments. The halt follows a previous production pause due to a "supplier parts concern" and a battery fire incident. Ford plans to ramp up shipments after the checks are completed, while also adjusting pricing for different trims. The company's decision to scale back production and investment in battery factories comes amid "changing" customer demand.
Nikola Corp's stock rebounded by 6% after Baird Equity Research initiated coverage with an outperform rating and a $2 price target, citing the potential of its new management team and proprietary design and software. Despite recent losses in the electric-vehicle sector, the company's leadership change and market potential for zero-emissions trucking are seen as positive developments. Analyst Ben Kallo also highlighted potential catalysts for Nikola's truck and energy units, while keeping an eye on the company's cash burn and liquidity.
Ford Motor Co. is reducing production of its F-150 Lightning electric truck due to declining demand for electric vehicles, impacting about 1,400 employees at the Rouge Electric Vehicle Center in Michigan. The company anticipates slower growth in global EV sales for 2024 than previously expected.
Kia revealed a concept render of a midsize electric pickup, potentially part of its PBV electric van program, targeting a starting price of around $35,000 and aiming for production in 2025. While the pickup variant is not confirmed, Kia plans to launch two electric pickups within the next three years, with the PV5 offering unconventional design features and modular construction, making it a unique and relatively affordable option in the electric truck market.
A Rivian R1T owner drove 24,000 miles in 15 months, using the electric truck for work purposes. However, the vehicle experienced multiple breakdowns due to drive system and parking brake errors. Despite the issues, the owner praised Rivian's customer service for promptly arranging tow trucks and providing rental cars. After unsuccessful attempts to resolve the problems, the owner reached an agreement with Rivian to buy back the R1T at full price. Although the owner considers his case isolated, he still recommends Rivian's electric pickup and appreciates features like the bed-mounted electrical outlets and Gear Tunnel.
The author, a diehard F-150 owner, tests the new Ford F-150 Lightning Platinum and is impressed by its capabilities. Despite its luxurious features, the electric truck performs exceptionally well in hauling, towing, and driving off-road. With its spacious front trunk ("frunk") and multiple power outlets, the F-150 Lightning offers practicality and versatility. The author concludes that unless you lack access to a charging port or frequently tow long distances, the F-150 Lightning is the most capable vehicle for any situation.
Stellantis has unveiled the 2025 Ram 1500 Ramcharger pickup truck, which features a 92-kilowatt-hour battery pack, a 130-kilowatt generator, and a 3.6-liter engine. The truck can use the engine to charge the battery or preserve battery power, offering a targeted range of up to 690 miles. With its towing capacity of up to 14,000 pounds and features like DC fast-charging and bi-directional charging, the Ramcharger aims to appeal to consumers skeptical of electric vehicles. Stellantis shares dipped slightly following the announcement.
