6 sources·Business

Ford Halts F-150 Lightning Production Amid EV Struggles

Ford pauses production of the F-150 Lightning, furloughing workers and reducing manager bonuses, amid ongoing EV market challenges and financial losses.

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Updated: Nov 1st, 2024, 12:16 AM ET

Summary

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Ford Motor Company announced a temporary halt in F-150 Lightning production until January 6, furloughing 730 workers due to waning EV demand and losses in its electric division, Model e. The company faces industry challenges, including rising costs and pricing pressures leading to slashed manager bonuses and adjusted capital expenditure for EVs. Despite an increase in overall EV sales, the F-150 Lightning specifically showed sluggish sales, influencing Ford's decision to reassess its EV production and long-term plans.

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