Ford Discontinues Several EV Models, Takes $19.5 Billion Writedown in Pivot to Hybrids
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 commercial use.
TL;DR
- Ford Motor Co. announces a $19.5 billion writedown.
- The writedown is due to the discontinuation of several electric vehicle models.
- The all-electric F-150 Lightning will be replaced by an extended-range version with a gasoline engine for recharging.
- Production will stop on a new electric truck (T3) and electric commercial vans.