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4mo ago

Ford Retreats From Big EVs With $19.5 Billion Charge, Halts F‑150 Lightning

Ford links the shift to weaker demand, looser U.S. rules, plus the end of a $7,500 EV tax credit.

L’annonce faite par Ford de l’abandon du modèle F-150 tout électrique est un symbole spectaculaire de capitulation.
Le patron de Ford Jim Farley devant un F-150 Lightning tout-électrique
Ford entend mettre à profit les investissements déjà réalisés dans l’électrique pour lancer une offre de batteries de stockage portables pour l’industrie hors automobile.

Overview

  • Ford will concentrate investment on hybrids, gasoline models and smaller electrified vehicles, moving away from large all‑electric models.
  • The company booked $19.5 billion in costs—$8.5 billion in impairments, $6 billion tied to dissolving its SK battery joint venture, and $5 billion in other charges—with $12.5 billion slated for Q4 2025.
  • Production of the all‑electric F‑150 Lightning will cease, and Ford plans a version with a gasoline range extender (EREV).
  • BlueOval SK is being dissolved as Ford takes full ownership of the Glendale, Kentucky battery plant, with about 1,600 initial layoffs and a later plan to hire roughly 2,100 after retooling.
  • Ford will repurpose battery investments to launch portable and industrial storage products targeted for 2027, and it now targets 50% of production including hybrids and EREV with profitability in its electrified business by 2029.