Ford Abruptly Updates F-150 Lightning
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Ford says it is "following the customer" in discontinuing its large electric pickup, which was well-received but never profitable. Ford will keep the Lightning name alive as a plug-in hybrid.
Ford on Monday said it is pulling back on its electric vehicle plans, a move that will result in a $19.5 billion charge against its earnings to be taken mostly in the current quarter.
1don MSN
Ford scraps fully-electric F-150 Lightning as mounting losses and falling demand hits EV plans
Ford Motor Co. is pivoting away from its once-ambitious electric vehicle plans amid financial losses and waning consumer demand for the vehicles.
Ford cuts F-150 Lightning production as CEO Jim Farley shifts strategic focus to hybrids and affordable EVs, taking massive $19.5 billion charge.
Ford's next-generation F-150 Lightning ditches a pure EV format in favor of a gasoline-backed extended-range electric truck that promises massive range and towing capability.
Ford has an answer to the F-150 Lightning's woes: turn it into a 700-mile extended-range electric vehicle (EREV) for the next generation.
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