Ford's Electric Dreams Take a Backseat

Ford has decided to slow down its electric vehicle (EV) plans. The company is facing big losses and not enough people are buying EVs. So, Ford is changing its strategy. It will stop making the electric F-1550 Lightning truck. Instead, it will make a version with a longer range that uses both electricity and gas.

Changes in Production Plans

Ford has also changed its plans for its Tennessee Electric Vehicle Center. Now, it will be called the Tennessee Truck Plant. This plant will make new, affordable gas-powered trucks. Another plant in Ohio will make gas and hybrid vans.

Financial Impact and CEO's Statement

Ford has lost a lot of money on EVs since 2023. It expects to lose even more money this year. The company's CEO said they are making these changes to focus on more profitable areas. These include trucks, vans, hybrids, and new battery storage businesses.

Future Projections

Ford now thinks that by 2030, half of its global sales will be hybrids, extended-range EVs, and full EVs. This is up from 17% this year.

Industry-Wide Adjustments

Other car companies are also changing their EV plans. In the U.S., EVs made up only 8% of new car sales last year. The high cost and lack of charging stations are big concerns for buyers.

Challenges in EV Adoption

The average price of a new EV is higher than the average price of a new car. Also, not everyone can charge their EV at home. This makes it harder for people to buy EVs.

Government Policy Shifts

The U.S. government has also changed its policies on EVs. The current administration has reduced support for EVs. This has made car companies rethink their EV plans.

Expert Opinions

Experts say that EVs are still the future. But the switch to EVs will take longer than expected.