Ford Says Electric Vehicle Losses Will Continue for 3 More Years

In December, Ford announced that it was scaling back its electric vehicle plans. It stopped making one model, the F-150 Lightning pickup truck; scrapped plans to produce an electric truck at a plant it was building in Tennessee; and canceled plans for an electric commercial van.

Instead, Ford plans to make a version of the Lightning that includes a gasoline engine that can recharge the truck’s batteries on the go. The company will use the Tennessee factory to make a gasoline-powered truck, and will make hybrid and gas-powered delivery vans at a location in Ohio.

Ford says it still plans to make a medium-size pickup that is supposed to sell for around $30,000. That truck, expected in 2027, will use new components and production methods that Ford has said will cost a lot less.

It also ended a partnership with a South Korean partner, SK On, that was supposed to jointly produce batteries. Ford has taken full ownership of a factory in Kentucky, and SK On now solely owns a plant in Tennessee.

Ford took charges of $19.5 billion against its fourth-quarter earnings to cover the cost of changing its strategy.

Article source: https://www.nytimes.com/2026/02/10/business/ford-earnings-electric-vehicles.html