Several months ago, Ford CEO Jim Farley said ending the nearly two-decade-long EV tax credit would halve America’s electric-vehicle market. Now his company is facing its own reality check.
Ford said this week it would cease production for the original electric F-150 Lightning, which was once touted as a breakthrough for the industry, and shift some of its existing workforce to producing a hybrid version of the pickup with a gas-powered generator called an EREV‚ or an extended range electric vehicle. The automaker said it would be taking a $19.5 billion charge in 2026 as a result of this “customer-driven shift.”
