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Ford scales back EV ambitions, forecasts $19.5 bn write-down

US-FORD-TO-STOP-MAKING-ALL-ELECTRIC-F-150-TRUCK,-IN-SHIFT-TO-HYB CHICAGO, ILLINOIS - DECEMBER 15: A Ford F-150 Lightning is offered for sale at a Ford dealership on December 15, 2025 in Chicago, Illinois. Citing slow customer demand, Ford announced it would be making changes to its electric vehicle strategy, including dropping the all-electric F-150 Lighting, as it pivots away from EVs, focusing instead on hybrid and extended-range electric vehicles. The move is expected to cost the company nearly $20 billion.
US-FORD-TO-STOP-MAKING-ALL-ELECTRIC-F-150-TRUCK,-IN-SHIFT-TO-HYB CHICAGO, ILLINOIS - DECEMBER 15: A Ford F-150 Lightning is offered for sale at a Ford dealership on December 15, 2025 in Chicago, Illinois. Citing slow customer demand, Ford announced it would be making changes to its electric vehicle strategy, including dropping the all-electric F-150 Lighting, as it pivots away from EVs, focusing instead on hybrid and extended-range electric vehicles. The move is expected to cost the company nearly $20 billion. Scott Olson/Getty Images/AFP
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Ford Motor Company announced Monday a major retreat from large electric vehicles, planning a write-off of about $19.5 billion over several years as it pivots toward hybrids, gas-powered trucks and a new battery storage business.

The Detroit automaker said it will cancel plans for select larger EVs due to weak demand, elevated costs and regulatory changes, marking a significant shift in strategy as the industry grapples with slower-than-expected electric vehicle adoption.

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