Ford just lost $20 billion on its EV investment
The automaker finally figured out what we knew all along: Nobody wants an all-electric F-150.
If you want a clear picture of where the American auto market is heading, don’t look at political speeches or glossy concept vehicles. Look at where manufacturers are spending — and writing off — real money.
Case in point: Ford’s $19.5 billion decision to abandon plans for a next-generation all-electric F-150.
Ford’s leadership is now openly saying what many in the industry have been signaling quietly: Customers are not moving in lockstep with regulatory timelines.
The company’s change of direction for its massive BlueOval City complex in Tennessee is one of the clearest signals yet that the industry’s all-electric future, at least as it was sold to consumers and investors, is being fundamentally rethought.
Instead of building a new electric F-150 Lightning there, Ford will pivot the facility toward producing lower-cost gasoline-powered trucks while shifting electric strategy toward hybrids, extended-range electric vehicles, and smaller EVs.
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