US EditionFord 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.
64 Articles
64 Articles
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 …
Ford cancels all-electric F-150 Lightning, announces $19.5 billion in charges
Ford is canceling the all-electric F-150 Lightning and also announced it would take a $19.5 billion charge as it aims to quickly restructure its strategy regarding electrification efforts, a massive blow for the Detroit-based company that was once one of the most gung-ho on transitioning to EVs. The announcement comes as the writing on the wall seemed to get bolder and more identifiable. Ford was bleeding money in EVs and, although it had a lot …
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.
Coverage Details
Bias Distribution
- 54% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
