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.
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.
The move comes as a response to the Trump administration’s waning support for electrification and a weakening consumer market.
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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