With financial losses and waning consumer demand at the wheel, Ford is deciding not to move forward with its F-150 Lightning electric pickup truck, the Associated Press reports.
Instead, it is going to pursue an extended range version, an electric car with a fuel-powered engine, of the vehicle.
The company has lost $13 billion on EVs since 2023, the Associated Press reports. And it expects another $19.5 billion loss in the fourth quarter of this fiscal year due to its EV business.
Because of its shift in focus, Ford’s Tennessee Electric Vehicle Center, which produces Ford EVs and batteries, will now be called the Tennessee Truck Plant and produce affordable gas-powered trucks.
Ford’s Ohio Assembly Plant will produce a new gas and hybrid van.
