#Ford #Halting #Production #Electric #F150 #Lightning #Truck #Report
Key takeaways
- Ford will reportedly halt production of its F-150 Lightning electric pickup truck for several weeks starting in mid-November.
- The automaker’s electric vehicle division posted a quarterly loss this month and sales fell year-on-year.
- Earlier this year, Ford restricted production at the facility that makes the F-150 Lightning.
Ford (France) has halted production of its all-electric F-150 Lightning pickup truck for at least several weeks, as it faces declining demand for its electric vehicles, according to the British newspaper “Daily Mail”. Wall Street Journal a report.
The automaker will idle its Rouge Electric Vehicle Center in Dearborn, Michigan, which manufactures the trucks, from mid-November through January 6. Magazine The report said. The company did not immediately respond to a request for comment.
The production halt comes after Ford reduced F-150 Lightning production in April by moving to just one shift at the facility.
Sales of Ford electric vehicles have slowed
Ford Model E, the company’s electric vehicle division, on Monday reported a loss of $1.2 billion for the third quarter. Revenue decreased by a third year on year. Looking at the year to date, the unit’s revenue is down 43% through the first nine months of 2024 compared to 2023.
Rival General Motors (GM) showed higher EV profitability when it reported earnings earlier this month.
Ford shares fell 8% on Tuesday after third-quarter results and are down about 15% year to date. Shares ended Thursday down just under 2%.
#Ford #Halting #Production #Electric #F150 #Lightning #Truck #Report
