Ford to Halt F-150 Lightning Production as EV Demand Wanes
2024-11-01 11:09
Favorite

Wedoany.com Report-Nov 1, Ford Motor Co. plans to shut down the Michigan factory that produces its F-150 Lightning plug-in pickup truck, its signature electric vehicle, through the end of the year as demand for EVs continues to wane.

The move is the latest blow to a model that had been a centerpiece of Ford’s EV strategy and that Chief Executive Officer Jim Farley said would be “a test for adoption of electric vehicles.” The automaker will begin a seven-week shutdown in mid-November of the Dearborn plant visited by President Joe Biden in 2021, who drove a Lightning and declared “this sucker’s quick.”

“We continue to adjust production for an optimal mix of sales growth and profitability,” Ford said Thursday in a statement.

While Lightning sales are up this year, they are far short of Ford’s ambitious expectations as many mainstream car buyers eschew EVs due to high prices and a spotty charging infrastructure. Ford began the year by cutting Lightning production in half and reducing the factory to one shift of workers, while boosting production of gasoline-fueled vehicles like the Bronco sport-utility vehicle. 

Ford stopped shipping Lightnings in February for an unspecified quality issue. And then it cut the electric pickup’s price to stimulate sales.

Farley spoke of the “slow uptake of EVs” during Ford’s third-quarter earnings call with analysts Oct. 28 and predicted Ford would lose $5 billion this year on its battery-powered models. Ford shares tumbled as it lowered its profit guidance and said it continues to struggle with high warranty costs to repair quality problems with its models.

The automaker is scrambling to develop a new line of compact EVs priced below $30,000 and in August scrapped plans to roll out an electric three-row SUV. Ford said it will launch a small electric pickup truck in 2027 that is being engineered by a “skunkworks” team in California, led by a former Tesla Inc. executive.

“We’re already on our second generation of electric vehicles — they’ll be launching in the next couple years,” Farley told analysts on the earnings call. “We’ll reduce the losses short term on our gen one products and set us up to be a global competitor in the long term.”

Lightning production is scheduled to resume on Jan. 6, Ford said. Automotive News earlier reported the Lightning plant’s idling.

This bulletin is compiled and reposted from information of global Internet and strategic partners, aiming to provide communication for readers. If there is any infringement or other issues, please inform us in time. We will make modifications or deletions accordingly. Unauthorized reproduction of this article is strictly prohibited. Email: news@wedoany.com
Lastest Bulletin
1
2026 China's Local Blueprint: Shanghai, Sichuan, Hubei, Anhui, and Other Regions Include Fusion Energy Projects in Their 2026 Key Project Lists
2
China Nuclear Environmental Protection: Concentrating Efforts on Reform for Breakthrough, Striving to Create a New Situation in the Nuclear Environmental Protection Industry
3
Fu Liangqian Appointed as Vice President of the Southwestern Institute of Physics (SWIP) under China National Nuclear Corporation
4
China Nuclear Power Equipment Holds Kick-off Meeting for the Promotion and Implementation of the "1455" Project
5
Zhu Xiaoyan, Member of the Party Leadership Group and Deputy Director of the East China Energy Regulatory Bureau: Seizing Opportunities, Striving Diligently to Contribute East China Energy Regulatory Strength to Building a Strong Energy Nation
6
CGNPC Environmental Protection Party Committee Deputy Secretary and General Manager Ren Junhua Meets with Southwest University of Science and Technology Vice President Fa Tao and Delegation
7
China National Nuclear Power 5th Construction Company Selected as a National Intellectual Property Demonstration Enterprise
8
2026 China-Korea Nuclear Energy Industry Exchange Seminar Concludes Successfully in Qingdao — Focusing on Supply Chain Collaboration and Overseas Expansion, Discussing New Opportunities for China-Korea Nuclear Energy Cooperation
9
China's First Domestically Developed "Hualong One" Main Steam Release Isolation Valve Successfully Shipped to Guangdong Lufeng Nuclear Power Plant
10
Taiwan Power Company of China Plans to Submit Reactivation Plan for Third Nuclear Power Plant in March; Potential Restart in 2028 After Safety Review Approval