US EditionFord Ditches some EVs, Takes $19.5 Billion Charge as Trump Policies Take Hold
Ford will cut losses by shifting to smaller, cheaper electric and hybrid vehicles and repurposing battery plants for energy storage after US EV sales dropped 40%, company said.
- Ford Motor Co. said Monday it will record a $19.5 billion writedown and cut back its aggressive EV plan, killing several electric-vehicle models.
- Falling EV demand, shown by about 40 in November, followed the September 30 expiration of a US federal $7,500 consumer tax credit, prompting Ford's strategic shift.
- At its Marshall site, Ford plans to pivot production toward residential battery cells, starting an energy storage division and shifting the $3.5 billion BlueOval Battery Park Michigan to make household batteries while repurposing Kentucky and Tennessee campuses.
- Spread over the accounting period, Ford said the writedown will be taken primarily in the fourth quarter, with about $US6 billion tied to SK On, $US5 billion to program expenses, and $US8.5 billion from canceled EV models.
- Looking toward 2030, Ford Motor Co. expects 50% of global volume to be hybrids, extended-range EVs and pure EVs, up from 17% in 2025, and will produce all-new gas-fueled truck models starting 2029, replacing the fully electric F-150 Lightning with extended-range versions.
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Ford makes major strategic shift as company redirects billions toward new priorities
Ford Motor Co. unveiled changes to its long-term strategy Monday, announcing a major redeployment of capital into new vehicle programs, hybrid technology and a rapidly expanding battery-storage business as the automaker adjusts to shifting consumer demand and market pressures.
The US car manufacturer Ford is cutting off its e-car offering and deducting nearly 20 billion dollars. The traditional company wants to focus more on models with combustion engines and hybrid drives in the future.
Sales paralyzed: Instead of using electric vehicles, the Group is again relying on cheaper burners
In doing so, the automaker responds to declining demand and US President Donald Trump's policy.
The success of Tesla brought the US car industry into motion, billions of investments went into the development of the electric car. Donald Trump is now praising the burner – and Ford is making a spectacular turnaround.
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By ALEXA ST. JOHN DETROIT (AP) — Ford Motor Co. is shifting its focus away from what used to be ambitious plans to sell electric vehicles due to financial losses and lower demand, and will instead invest in more efficient gasoline engines and hybrid vehicles, the company announced Monday. The Detroit-based automaker, which has poured billions of dollars into developing electric vehicles like most of its industry peers, said it will no longer bui…
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