Ford Motor Co. is idling its plant in Dearborn producing all-electric F-150 Lightning pickup trucks starting in mid-November into next year, the Dearborn automaker confirmed on Thursday.
“We continue to adjust production for an optimal mix of sales growth and profitability,” spokesperson Jess Enoch said in a statement.
U.S. Lightning sales are up 86% year-over-year, but the automaker loses money on the truck that starts at $62,995 as the industry undergoes a price war on EVs. The fewer Lightnings with their large, costly batteries Ford sells, then, the less money it’s going to lose. Ford this week said it expects Model e, its EV division, to lose about $5 billion in 2024, the low end of its previously provided guidance.
The move is a look at just how complicated navigating the bumpy EV adoption curve can be. Automakers have made production decisions based on demand, but they’re also looking to maximize their profitability to continue to invest in new technologies and multiple powertrain options for customers since many remain reluctant to move into EVs because of higher prices, range anxiety and other changes that come with them.
Read more at Detroitnews.com
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