Ford Halts EV Expansion, Pivots to Gas & Hybrids Amid Billions in Losses

• Ford is scaling back its electric vehicle strategy, shifting focus to gasoline-powered and hybrid models due to significant losses and weaker consumer demand.
• The automaker will stop producing the electric F-150 Lightning pickup, opting for an extended-range version, and repurpose EV manufacturing sites.
• Ford's Tennessee Electric Vehicle Center will become the Tennessee Truck Plant for gas trucks, and the Ohio Assembly Plant will build gasoline and hybrid vans.
• The company has incurred $13 billion in EV losses since 2023, with an additional $19.5 billion impact expected, prompting a capital redeployment to higher-return areas.
• Ford now projects hybrids, extended-range EVs, and fully electric vehicles to comprise about half of global sales by 2030, up from 17% currently, reflecting market challenges and policy shifts.

Why It Matters: Ford rethinks EV strategy, prioritizing hybrids and gas vehicles due to losses and market realities.