Overview
- Ford outlined roughly $19.5 billion in special items—about $8.5 billion in EV asset writedowns, ~$6 billion tied to dissolving its SK On battery joint venture, and ~$5 billion in program costs—with most recorded in Q4 and cash impacts extending through 2027.
- The company will end the all-electric F-150 Lightning and introduce an extended-range EV version with a gas generator, while canceling the clean-sheet T3 pickup and next-generation electric commercial vans.
- Ford is shifting investment to hybrids, plug-in/extended-range models and smaller, lower-cost EVs on a new Universal EV Platform, with a fully connected midsize pickup planned for Louisville assembly in 2027.
- Battery plants in Kentucky and Michigan will be repurposed for a stationary energy storage business targeting about 20 GWh of annual capacity, with production and shipments expected in 2027.
- Ford raised its 2025 adjusted EBIT outlook to about $7 billion and pointed to slumping U.S. EV sales after the $7,500 credit expired, noting near-term layoffs at a Tennessee battery site but projecting net hiring over time.