Ford to pause production of F-150 Lightning electric pickup trucks

Ford Motor connected Thursday said it is temporarily halting accumulation of nan Detroit automaker's F-150 Lightning pickup motortruck until 2025 amid waning user request for electrical vehicles. 

Ford will region manufacturing of nan EV at its Rouge Electric Vehicle Plant connected November 15 and resume connected January 6. 

"We proceed to set accumulation for an optimal operation of income maturation and profitability," nan institution said successful a connection to CBS MoneyWatch. 

Ford besides said it will furlough astir 730 hourly employees, though it noted that not each workers will beryllium sidelined for nan long of nan accumulation freeze. 

Ford launched nan F-150 Lighting, which MotorTrend named its truck of nan year successful 2023, 2 years ago, underlining nan car maker's push into EVs. With income sluggish, Ford past twelvemonth slashed nan vehicle's price by thousands of dollars.

For nan 3rd quarter, Ford reported a $1.2 cardinal nonaccomplishment connected Model e, its abstracted EV unit. The institution projects losses of $5 cardinal for Model e for each of 2024, attributing nan financial deed successful portion to "industrywide pricing pressure."

Earlier this year, Ford scrapped plans for an all-electric, three-row SUV to attraction connected hybrid models. At nan time, nan institution said its scheme was to  "speed customer adoption" of much affordable vehicles pinch longer driving ranges. That includes processing a caller family of three-row, hybrid SUVs.

Electric conveyance prices are tumbling arsenic cars heap up connected tons amid cooling user demand. The mean value of a caller EV successful May was $56,648, according to Kelley Blue Book, down astir 15% from 2 years earlier, erstwhile nan mean value was $65,000. 

In:
• Electric Vehicles
• Ford F-150
• Ford