Overview
- Ford will record a $19.5 billion charge tied to its EV reset, including $8.5 billion for canceled models, $6.0 billion from unwinding the SK On battery joint venture, and $5.0 billion in program costs.
- Production of the fully electric F‑150 Lightning is ending, with an extended‑range electric successor that uses a gasoline engine to recharge the battery planned in its place.
- BlueOval City in Tennessee will be renamed the Tennessee Truck Plant to build affordable gasoline pickups, and the Ohio Assembly Plant will shift to new gasoline and hybrid vans.
- The company cited weakening EV demand, higher costs, the expiration of federal consumer tax credits, and looser U.S. emissions enforcement under President Trump as key reasons for the pivot.
- Ford raised its 2025 adjusted EBIT outlook to about $7 billion, targets Model e profitability by 2029 and a roughly 50% hybrid/EREV/EV sales mix by 2030, and will redeploy battery capacity into energy‑storage products.