Ford has pulled back its optimism of EVs as of late, limiting battery production at two plants in Kentucky last month and cancelling US$12 billion in planned EV investment. And now, it revealed to suppliers that it will be cutting F-150 Lightning production in 2024.
Starting January 1, production of the electric pickups at the Electric Vehicle Center in Dearborn, Mich., will be cut in half, down to 1,600 rolling off the line per week from 3,200. Ford spokespeople have said the company will match production with customer demand.
Even despite five-figure price cuts on the F-150 Lightning this summer, high interest rates and market saturation have hit EV sales in general in the last half of this year.