Ford Shifts Focus: F-150 Lightning Production Ends, Battery Storage Business Takes Off

Ford has ended production of its F-150 Lightning, a full-size battery electric pickup truck, and will instead focus on building cheaper vehicles, hybrids, and range-extended electric vehicles. The automaker announced the decision to shift its strategy, citing a decline in demand for the F-150 Lightning. As a result, Ford will discontinue production of the all-electric pickup truck, which was launched in 2022. The company will now focus on developing a new range-extended electric vehicle (EREV) to replace the F-150 Lightning. The new EREV will feature a gasoline generator that charges the battery, allowing for an estimated range of 700 miles and heavy-duty towing capabilities. According to Doug Field, Ford's chief EV, digital, and design officer, the new EREV will deliver the same instant torque and pure electric driving experience as the F-150 Lightning, but with the added benefit of a high-power generator. Ford's decision to end production of the F-150 Lightning comes as the company faces declining sales and increasing competition in the electric vehicle market. The F-150 Lightning was a key part of Ford's electric vehicle strategy, but it failed to gain significant traction with consumers. Despite its impressive range and performance capabilities, the truck was priced at around $50,000, making it less competitive with other electric vehicles on the market. The discontinuation of the F-150 Lightning is a significant setback for Ford's electric vehicle ambitions. The company had invested heavily in the development of the truck, and its failure has raised questions about the feasibility of Ford's electric vehicle strategy. However, Ford remains committed to its electric vehicle plans and has announced plans to expand its range of electric and hybrid vehicles in the coming years. Ford's decision to end production of the F-150 Lightning has also raised concerns about the impact on its employees and suppliers. The company has not provided details on the number of jobs that will be affected by the decision, but it is likely to have a significant impact on the workforce at Ford's manufacturing facilities. In a statement, Ford said that it would continue to invest in its electric vehicle business and would focus on developing more affordable and accessible electric vehicles. The company also announced plans to expand its battery storage business, which will provide energy storage solutions for homes and businesses. Ford's battery storage business is expected to be a significant growth area for the company in the coming years. Ford's shares fell 2% in trading on the news, reflecting investor concerns about the company's electric vehicle strategy. However, the company's stock has been volatile in recent months, and the decline in share price is not unexpected. In a statement, Doug Field said, "We are committed to delivering on our electric vehicle promise, and we are confident that our new range-extended electric vehicle will be a game-changer in the market. We will continue to invest in our electric vehicle business and explore new opportunities for growth and innovation."