Photo: Ford
Ford has officially pulled the plug on the all-electric F-150 Lightning, marking one of the most dramatic reversals yet in the auto industry’s push toward full electrification. The decision comes alongside a staggering $19.5 billion write-down tied primarily to Ford’s electric vehicle investments — one of the largest impairments ever taken by a U.S. company.
The automaker confirmed it will stop producing the EV version of its best-selling pickup and instead pivot toward hybrids and so-called extended-range electric vehicles (EREVs). Ford CEO Jim Farley was blunt about the rationale behind the move.
“Instead of plowing billions into the future knowing these large EVs will never make money, we are pivoting,” Farley told The Wall Street Journal. “We now know enough about the U.S. market where we have a lot more certainty in this second inning” of reduced-emissions powertrains.
Farley also addressed why the Lightning failed to resonate with buyers, despite early hype. “The $50k, $60k, $70k EVs just weren’t selling; We’re following customers to where the market is. We’re going to build up our whole lineup of hybrids. It’s gonna be better for the company’s profitability, shareholders and a lot of new American jobs,” he said. “These really expensive $70k electric trucks, as much as I love the product, they didn’t make sense.”
Instead, Ford believes EREVs offer a more practical solution for truck buyers. “But an EREV that goes 700 miles on a tank of gas, for 90% of the time is all-electric, that EREV is a better solution for a Lightning than the current all-electric Lightning,” Farley added.
An EREV, or extended-range electric vehicle, relies on a gasoline-powered generator to recharge the battery pack, combining electric driving with the security of a traditional fuel source. Ford says this approach better aligns with customer expectations around range, cost, and usability — especially in the U.S. truck market.
The move is hardly a surprise. Ford has repeatedly hit the brakes on F-150 Lightning production since launching the truck, citing weak demand. Production was cut by nearly 50% in December 2023, followed by another slowdown in October 2024, as inventories piled up and sales momentum stalled. Despite being positioned as a flagship EV, the Lightning never gained the traction Ford had envisioned.
According to The Wall Street Journal, Ford has lost roughly $13 billion on its EV business since 2023. The company now plans to bolster its lineup of gas-powered vehicles while accelerating hybrids and extended-range models, even as it maintains plans for a more affordable $30,000 electric pickup by 2027.
For Ford, the cancellation of the F-150 Lightning underscores a broader industry reckoning: for now, large, expensive electric trucks remain a tough sell.
