US EditionFord Cancels $6.5B Battery Deal in EV Retreat
Ford is reallocating billions from large battery electric vehicles to hybrids and energy storage amid weakening EV demand and policy shifts, taking a $19.5 billion charge.
- On Dec. 15, Ford Motor Co. announced a major pivot recording a $19.5 billion charge and ending production of the 2025 all-electric F-150 Lightning, retreating from select large EVs.
- With U.S. EV sales slumping, Ford said the early end of the $7,500 federal EV tax credit and regulatory rollbacks reduced demand, eroding the business case for select larger electric vehicles.
- Ford will convert the Lightning into an EREV and plans to build 20GWh of battery storage using cheaper LFP cells at BlueOval SK Battery Park in Glendale, Kentucky, and BlueOval Battery Park Michigan in Marshall, Michigan.
- SK On ended its joint venture last week and will fully own the Tennessee battery plant; SK Battery Park faces 1,600 layoffs while Ford plans 2,100 and at least 2,300 U.S. factory hires, Ford said.
- By 2030 Ford Motor Co. expects 50% of global volume to be hybrids, EREVs, and EVs, prioritizing Europe where EV sales rose 36% in November and advancing its $5 billion Universal EV Platform.
198 Articles
198 Articles
Ford cancels EV battery deal worth $6.5 billion with South Korea's LG Energy Solution
SEOUL, Dec 17 : South Korea's LG Energy Solution said on Wednesday that Ford Motor has terminated an electric vehicle (EV) battery-supply deal worth about 9.6 trillion won ($6.50 billion). The South Korean battery maker said in a regulatory filing that the termination followed a notice from Ford after the aut
Ford Halts Electric F-150 Production, Expands Use of Chinese Technology
Ford on Monday will halt production of its electric F-150 Lightning pickup after poor sales of the vehicle, and will re-introduce it as a plug-in hybrid that uses an unusual technology to deliver more than 700 miles of range. The company also sharply cut plans to make batteries in the U.S. and, ...
Trump's government has abolished subsidies for electric cars, and the change of course in the car industry is also a response to this. Their long-term problems are not solved.
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