Ford announces its ending production of its full-size electric pickup [CBS News]
Ford Motor Company (F)
Last ford motor company earnings: 4/28 04:09 pm
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Source: CBS News
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 was a surprise announcement from the Ford Motor Company that it was ending production of its F-150 Lightning pickup truck. It described the move as a "consumer-driven" decision. The company says it lost billions trying to sell electric vehicles, and some feel the move may signal a big shift in the EV market. Farley said sales had fallen off drastically for the all-electric version of its iconic truck line, which can cost from $50,000 to $80,000. "We saw this happening," he said. "We also saw the more expensive EVs really suffer in the market, and the more affordable EVs do better. And then the last couple months really was remarkable. The EV market in the US went from 12 percent in the industry to only 5." Tom McGloughney hosts a webcast called S
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News
- Ford makes major strategic shift as company redirects billions toward new priorities [Yahoo! Finance]Yahoo! Finance
- Ford Accused of Paying $600 for $22,600 EV Battery Repairs [Yahoo! Finance]Yahoo! Finance
- 16 states sue Trump administration again over billions in withheld electric vehicle charging funds [CNBC]CNBC
- Slate crosses 150,000 reservations despite waning EV truck enthusiasm [TechCrunch]TechCrunch
- Ford CEO Jim Farley said Trump would halve the EV market by ending subsidies. Now he's writing down $19.5 billion amid a ‘customer-driven' shift [Fortune]Fortune
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