Ford takes $19.5 billion hit
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Ford is rethinking its electric vehicle and battery strategy, dropping the all-electric version of the F-150 Lighting and putting more of its money into hybrid trucks and energy storage to support data centers and grid stability.
The Detroit automaker, which has poured billions of dollars into electrification along with most of its industry peers, said it will no longer make the F-150 Lightning.
Consumers considering a hybrid pickup truck might want to buy sooner rather than later. Ford Motor Co. CEO Jim Farley suggested the Dearborn automaker could hike prices on its hybrid offerings, particularly its popular F-150 models, in the future.
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Ford announces next-generation F-150 Lightning EREV pickup
Ford says its next-generation F-150 Lightning is designed around Extended Range Electric Vehicle (EREV) technology that combines an electric powertrain with a generator-backed estimated range of more than 700 miles.