News Summary

Ford has announced a major strategic shift in its electric vehicle (EV) plans, halting the production of the fully-electric F-150 Lightning truck. In its place, Ford will introduce an extended range electric vehicle version of the truck, incorporating a gas generator to recharge the battery, allowing for over 700 miles of range. This decision is part of a broader companywide shakeup, which includes a $19.5 billion impact to reshape its EV business strategy. Ford will continue to produce the E-Transit van model but is abandoning plans for a next-generation all-electric truck, codenamed ‘T3’, and a commercial van. The pivot is driven by the eroding business case for larger EVs due to lower demand, high costs, and regulatory changes. Ford plans to release a mid-sized all-electric pickup truck in 2027, powered by a new platform developed by former Tesla executives. The company is also on track to produce cheaper lithium iron phosphate batteries by 2026.