Ford takes $19.5 billion hit
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Ford to record $19.5 billion in special charges
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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.
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.
Gov. Andy Beshear has long touted Ford's planned Kentucky EV battery plant. He blamed recent changes on Rep. Brett Guthrie and President Trump.
The operating reality has changed, and we are redeploying capital into higher-return growth opportunities,” Ford CEO Jim Farley said.
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Ford scraps plans for electric pickup at BlueOval City, turns to gas-powered truck models
Ford Motor Company is scrapping plans to manufacture a next-generation electric pickup truck at BlueOval City in West Tennessee, looking instead to gas-powered pickup trucks with more stable paths to profit.
It’s official. The all-electric pickup is dead, but Ford is promising the F-150 Lightning EREV will be “every bit