Ford Takes a $19.5 Billion Hit on Its EV Trucks | Income Tips & Side Hustles
Ford Motor Co. is pulling the plug on its EV vehicles after a expensive strategy did not ship. The company said it should take about $19.5 billion in expenses, one of the auto industry’s greatest write-downs to this point.
“Instead of plowing billions into the future knowing these large EVs will never make money, we are pivoting,” said Ford Chief Executive Jim Farley. Ford plans to lean more durable on gas-powered autos and ramp up hybrids and extended-range EVs that embody onboard gasoline engines. It will also stop making the all-electric F-150 Lightning.
The transfer displays how many shoppers continue to steer clear of committing to pure EVs, citing considerations about price, driving vary and charging entry. Ford says a lower-cost EV pickup stays on monitor for 2027.
Read more
Ford Motor Co. is pulling the plug on its EV vehicles after a expensive strategy did not ship. The company said it should take about $19.5 billion in expenses, one of the auto industry’s greatest write-downs to this point.
“Instead of plowing billions into the future knowing these large EVs will never make money, we are pivoting,” said Ford Chief Executive Jim Farley. Ford plans to lean more durable on gas-powered autos and ramp up hybrids and extended-range EVs that embody onboard gasoline engines. It will also stop making the all-electric F-150 Lightning.
The transfer displays how many shoppers continue to steer clear of committing to pure EVs, citing considerations about price, driving vary and charging entry. Ford says a lower-cost EV pickup stays on monitor for 2027.
Read more
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