Ford takes $19.5 billion hit
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Ford Motor announced a $19.5 billion charge on electric-vehicle investments on Monday, the most visible sign to date of the auto industry’s pullback from a technology carmakers wholeheartedly embraced early this decade.
Ford Motor is keeping the F-150 Lightning, but changing its technology. It plans to add thousands of jobs and enter this new business.
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.
Ford Motor Co. unveiled changes to its long-term strategy Monday, announcing a major redeployment of capital into new vehicle programs, hybrid technology and a rapidly expanding battery-storage business as the automaker adjusts to shifting consumer demand and market pressures.
Ford Motor Company is backing off their electrification plans, shifting their focus to more hybrids, and ending the production of the all-electric F-150 Lightning.
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Ford shifts Blue Oval City production from electric to gas trucks, prompting state officials to consider renegotiating the $500 million incentives package used to lure the Detroit giant to Tennessee.
On Monday, Ford announced that it was discontinuing production of the full-size EV pickup. "It didn't make sense to keep plowing billions into products that we knew wouldn't make money," said Ford President and CEO Jim Farley.
It's the most dramatic example yet of the auto industry's retreat from battery-powered models in response to the Trump administration's policies and weakening EV demand.
Ford Motor Co. has announced major changes to BlueOval City in Stanton that will affect what is produced at the site, employment numbers and more.
Mass layoffs are anticipated at Kentucky’s BlueOval SK plant as Ford Motor Co. takes over and repurposes the EV battery facility.
Ford Motor Company this week announced a new business plan that includes new American-made vehicles and a focused battery energy storage business. The
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