Ford halts production of F-150 Lightning electric pickup trucks until January 2025

Ford has announced that it will suspend operations at the plant where the F-150 Lightning electric pickup trucks are made until January next year.

Here's What We Know

The plant will close after the last shift on 15 November and will remain closed for seven weeks, including holidays. Ford spokeswoman Emma Berg attributed the decision to the need to adjust production to best balance sales growth and profitability.

Ford has been struggling to make a profit from its Model e division, which focuses on electric vehicles and software. The company lost $1.2 billion on Model e in the third quarter and is forecasting a $5 billion loss for the full year. The main reason for the loss is cited as pricing pressure in the industry.

Despite initial expectations, the F-150 Lightning has faced challenges including price cuts and production disruptions. While the Tesla Cybertruck has outpaced it in sales, Ford continues to work on a more affordable electric vehicle platform.

Source: The Verge