Ford Motor Company has announced a major shift in its electric vehicle strategy, taking a 19.5 billion dollar charge as it scales back or cancels several planned EV models. The company is ending production of the fully electric F‑150 Lightning and redirecting investment toward hybrid and extended range models that combine electric motors with traditional engines. Several upcoming electric pickups and commercial vans have also been canceled as Ford focuses on more affordable and profitable projects.
The charge includes costs from canceled EV projects, the unwinding of a joint venture with battery partner SK On, and other program expenses. Ford plans to launch a new platform for smaller electric vehicles around 2027 and expand its hybrid lineup while continuing to invest in trucks and vans that remain strong sellers.
Experts say the move reflects both market realities and political changes, including the expiration of federal EV tax credits and adjustments to emissions policies. Despite the large charge, Ford has raised its earnings outlook for 2025, citing strong sales of gas powered trucks and SUVs. The company believes that by focusing on hybrids, affordable EVs, and battery energy storage, it can remain competitive and profitable in a changing automotive landscape.
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