Ford writes down $19.5 billion
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Ford Motor Co. is pivoting away from its once-ambitious electric vehicle plans amid financial losses and waning consumer demand for the vehicles.
The move comes as a response to the Trump administration’s waning support for electrification and a weakening consumer market.
Three electric vehicles are gone as the automaker pivots to hybrids, range-extended trucks, and battery storage in a sweeping strategic reset
Ford has announced its plans to reboot the F-150 Lightning into an EREV with a gas generator that could take it to a range of 700 miles.
The operating reality has changed, and we are redeploying capital into higher-return growth opportunities,” Ford CEO Jim Farley said.
DETROIT (AP) — Ford Motor Co. is pivoting away from its once-ambitious electric vehicle plans amid financial losses and waning consumer demand for the vehicles in lieu of investment in more efficient gasoline-engines and hybrid EVs, the company said Monday.