Ford has reportedly decided to cut its projected increase in production of the all-electric F-150 Lightning in half, dropping from 3,200 to 1,600 per week starting in 2024.
The company cites changing market demand as the reason for the production cuts, amid struggles to sell all-electric vehicles and concerns about transitioning from gas to electric.
Despite selling over 20,000 F-150 Lightnings this year, Ford is facing challenges, including significant losses on EVs and delays in battery plant construction. (Trending: Obama Reveals His Fear For Joe Ahead Of 2024)
“Ford has projected it will lose $4.5 billion on EVs this year, and the motor company said it lost around $32,000 for every EV it sold during the second quarter of 2023,” the report noted.
“Ford is also delaying production at a battery plant in Kentucky and significantly reduced its commitment to a battery plant in Michigan, cutting 800 jobs and more than $1 billion.”
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