Overview
- Ford will retire the all-electric F-150 Lightning and introduce an extended-range successor that uses a gasoline engine as a generator.
- BlueOval City’s Tennessee EV Vehicle Center will become the Tennessee Truck Plant building affordable gasoline pickups, while Ohio Assembly will produce a new gasoline and hybrid van.
- The company will record a $19.5 billion charge tied to its EV reset, with a reported breakdown of $8.5 billion for canceled models, $6.0 billion for dissolving the SK On battery joint venture, and $5.0 billion in program costs.
- Canceled programs include the next-generation T3 electric pickup and planned electric commercial vans, as Ford redirects capital to Ford Pro, its trucks and vans, hybrids, and a new battery energy-storage business.
- Ford said it now expects to finish 2025 with EBIT of up to $7 billion, attributing the improvement in part to tighter cost control.