Ford Abandons Flagship EV Program Amid $19.5B Loss, Shifts Focus to Hybrids
Ford Motor Company is scrapping its flagship electric F-150 pickup truck and other large EV models, absorbing a $19.5 billion loss as it pivots toward hybrid vehicles. The decision follows the TRUMP administration's elimination of federal EV subsidies, which triggered a 49% drop in electric vehicle sales last October. "The financial justification for these large EVs has evaporated," said CEO Jim Farley, citing weak demand, high costs, and regulatory uncertainty.
The automaker will reallocate capital toward conventional trucks, affordable EVs, and energy storage solutions for commercial clients. This strategic retreat mirrors broader industry hesitancy—multiple automakers are scaling back electrification plans as consumer adoption lags expectations. The $7,500 federal tax credit's expiration has further destabilized the sector, creating a September buying frenzy followed by a cliff-edge decline.
