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Ford to record $19.5 billion in special charges related to EV pullback
Ford will record $19.5 billion in charges, shifting focus from large electric trucks to hybrids, cheaper EVs, and battery storage with a new extended-range F-150 Lightning.
- On Monday, Ford Motor Company said it will report a $19.5 billion charge in special items, mostly recorded in the fourth quarter, and will end production of the fully-electric F-150 Lightning.
- After policy and market shifts, the EV segment slumped domestically after the Trump administration ended a $7,500 federal tax credit and Tesla’s price war eroded large EV margins.
- The company detailed specific cancellations and writedowns, noting $8.5 billion writedowns of EV assets, cancelled T3 and a next-generation commercial van, and $5.5 billion in cash charges through 2027.
- Financially, Ford expects the charges to affect reported net results but not adjusted earnings, raising adjusted EBIT guidance to about $7 billion in 2025 while shares closed Monday at $13.65 with mixed moves.
- Strategically, the company is positioning to refocus on hybrids and EREVs, targeting 50% of global volume by 2030, expecting benefits by 2026, Model e profitability by 2029, and stationary energy storage by 2027.
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Ford Discontinues Several EV Models, Takes $19.5 Billion Writedown in Pivot to Hybrids
Ford Motor Co. revealed Monday that it would take a $19.5 billion writedown after choosing to discontinue several electric vehicle models. The Michigan-based company intends to replace its all-electric F-150 Lightning pickups with an extended-range version that uses a gasoline engine for battery recharging. Ford is also stopping production on a forthcoming electric truck, called T3 in international markets, along with electric vans designed for …
·New York, United States
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Ford Takes Massive $19.5 Billion Hit in Electric Vehicle Bust - Scraps Electric F-150 Truck Touted by Joe Biden
Ford on Monday announced it took a massive $19.5 billion hit tied to its electric vehicle production and said it will scrap the electric F-15 truck touted by Joe Biden.
·United States
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Coverage Details
Total News Sources63
Leaning Left12Leaning Right7Center21Last UpdatedBias Distribution53% Center
Bias Distribution
- 53% of the sources are Center
53% Center
L 30%
C 53%
R 17%
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