Ford Motor Co. is pulling the plug on its EV vans after a expensive technique didn’t ship. The firm mentioned it is going to take about $19.5 billion in prices, one of many auto business’s largest write-downs up to now.
“Instead of plowing billions into the long run understanding these giant EVs won’t ever earn cash, we’re pivoting,” mentioned Ford Chief Executive Jim Farley. Ford plans to lean more durable on gas-powered automobiles and ramp up hybrids and extended-range EVs that embody onboard gasoline engines. It can even cease making the all-electric F-150 Lightning.
The transfer displays what number of customers proceed to avoid committing to pure EVs, citing considerations about worth, driving vary and charging entry. Ford says a lower-cost EV pickup stays on monitor for 2027.
Ford Motor Co. is pulling the plug on its EV vans after a expensive technique didn’t ship. The firm mentioned it is going to take about $19.5 billion in prices, one of many auto business’s largest write-downs up to now.
“Instead of plowing billions into the long run understanding these giant EVs won’t ever earn cash, we’re pivoting,” mentioned Ford Chief Executive Jim Farley. Ford plans to lean more durable on gas-powered automobiles and ramp up hybrids and extended-range EVs that embody onboard gasoline engines. It can even cease making the all-electric F-150 Lightning.
The transfer displays what number of customers proceed to avoid committing to pure EVs, citing considerations about worth, driving vary and charging entry. Ford says a lower-cost EV pickup stays on monitor for 2027.
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