CEO Jim Farley announced Ford is abandoning its traditional strategy of building cars for all market segments. The automaker will now focus on its areas of strength. These include trucks, commercial vehicles, and a selective range of electric models. This realignment signals a retreat from previous all-electric ambitions.
Ford will end production of the F-150 Lightning electric pickup in 2025. The company will take a $19.5 billion charge to restructure its Model e electric vehicle division.
Ford frames the move as a pragmatic response to market realities. The decision addresses profitability concerns within the EV sector. The shift may leave Ford vulnerable to competitors with more aggressive electrification plans.