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Ford takes $19.5B charge in hybrid pivot, cancels F-150 Lightning EV, launches new battery storage business
Yahoo!Finance
Ford takes $19.5B charge in hybrid pivot, cancels F-150 Lightning EV, launches new battery storage business
Larger EVs will be cancelled in favor of smaller EVS, hybrids, and extended-range EVs.
Pras Subramanian · Senior Reporter
Updated Mon, December 15, 2025 at 4:07 PM EST 4 min read
Ford (F) announced a series of moves in its EV business, pivoting to a hybrid and extended-range EV (EREV) strategy instead of full EVs. The company will take a whopping $19.5 billion in charges related to the move. Ford canceled the Lightning EV pickup in its existing form, and the company said it would shift battery production to other areas.
“The operating reality has changed, and we are redeploying capital into higher-return growth opportunities: Ford Pro, our market-leading trucks and vans, hybrids, and high-margin opportunities like our new battery energy storage business,” Ford CEO Jim Farley said in a statement.
Ford will concentrate its North American EV development on its new, low-cost, flexible Universal EV Platform used for smaller, more efficient EVs designed to tap into a broader range of customers. The first vehicle from the Universal EV Platform will be the fully connected midsize pickup truck assembled at its Louisville Assembly Plant starting in 2027.
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Ford takes $19.5B charge in hybrid pivot, cancels F-150 Lightning EV, launches new battery storage business
Larger EVs will be cancelled in favor of smaller EVS, hybrids, and extended-range EVs.
Pras Subramanian · Senior Reporter
Updated Mon, December 15, 2025 at 4:07 PM EST 4 min read
Ford (F) announced a series of moves in its EV business, pivoting to a hybrid and extended-range EV (EREV) strategy instead of full EVs. The company will take a whopping $19.5 billion in charges related to the move. Ford canceled the Lightning EV pickup in its existing form, and the company said it would shift battery production to other areas.
“The operating reality has changed, and we are redeploying capital into higher-return growth opportunities: Ford Pro, our market-leading trucks and vans, hybrids, and high-margin opportunities like our new battery energy storage business,” Ford CEO Jim Farley said in a statement.
Ford will concentrate its North American EV development on its new, low-cost, flexible Universal EV Platform used for smaller, more efficient EVs designed to tap into a broader range of customers. The first vehicle from the Universal EV Platform will be the fully connected midsize pickup truck assembled at its Louisville Assembly Plant starting in 2027.
{snip}