Overview
- Ford will record a $19.5 billion write-down, with most of the charge booked in the fourth quarter of 2025 and about $5.5 billion in related cash outflows mostly in 2026.
- The company is halting the current all-electric F-150 Lightning and canceling several large BEV programs, including the T3 next-generation truck and planned electric vans.
- Factories are being repurposed: BlueOval City in Tennessee becomes the Tennessee Truck Plant for gas trucks starting in 2029, and Ohio Assembly will build new gas and hybrid vans in 2029.
- Ford is dissolving its SK On battery joint venture and shifting capacity to a new energy storage business using LFP prismatic cells, targeting about 20 GWh of shipments in 2027 after roughly $2 billion of near-term investment.
- Guidance and targets shift: the automaker raised its 2025 EBIT outlook to about $7 billion, now aims for roughly 50% hybrid/EREV/BEV mix by 2030, and expects hybrid/EV profitability in 2029 following Model e losses of about $12–13 billion and steep recent EV sales declines.