Ford Shrinks Its EV Rollout Plans as Demand Lags
August 21, 2024 No Comments
Automaker cancels large electric SUV and expects to take $1.9 billion in related special charges and write-downs
Automaker cancels large electric SUV and expects to take $1.9 billion in related special charges and write-downs
Ford is cutting back production of its F-150 Lightning electric vehicle, a model that President Joe Biden took for a test drive to market his administration’s EV agenda.
The automaker cited similar reasons for those increases, specifically related to raw materials such as lithium, cobalt and nickel that are used in batteries for the vehicles.
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