Hyperdrive
Ford Cuts Electric F-150 Plans in Ominous Sign for EV Market
- Automaker halves expected 2024 output of the plug-in model
- EV sales growth in US seen slowing significantly next year
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Ford Motor Co. is cutting 2024 production goals in half for its F-150 Lightning plug-in pickup truck — its signature electric vehicle — due to slowing demand for battery-powered models.
The automaker now intends to build 1,600 of the trucks a week next year at its plant in Dearborn, Michigan, down from a previous plan to manufacture 3,200 weekly, a company spokeswoman said. Ford has been informing suppliers of the production cuts on a model Chief Executive Officer Jim Farley once said was “a test for adoption for electric vehicles” in America.