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Ford cuts production of its first electric truck by half due to low demand

Ford cuts production of its first electric truck by half due to low demand

Washington – stronghold decided to cut production of its first electric pickup truck by half, F-150 LightningIn 2024, according to what local media reported today, Tuesday, which… It represents a major change in the company’s electrification plans.

Ford said it will produce about 1,600 units of Lightning per week next year, half of current production, CNBC reported.

This is the second announcement in a few weeks in which Ford announces downward changes in its shift to producing an increasing number of electric cars.

In late November, the company revealed that it would reduce the size and capacity of BlueOval Battery Park Michigan by 40%, which will be the first lithium-phosphate (LFP) battery production plant in United State.

Both in the case of the BlueOval Battery Park plant in Michigan, which will now have its output reduced to 20 gigawatt hours (GWh) and a workforce of 1,700 people, and in the case of Lightning, the company justified the cuts due to energy demand. Electric cars are lower than initially expected.

Although in the first nine months of the year. Ford had net profits of $4,852 millionThe Ford Model E unit, the unit dedicated to producing and marketing electric vehicles, incurred accumulated losses amounting to $3.131 million.

In contrast, Ford Blue, which produces vehicles with combustion engines, made $6.649 million, and Ford Pro, which focuses on commercial and utility vehicles, made $5.411 million.

Due to lower-than-expected demand and financial results, Ford announced in October that it would postpone investing about $12 billion in electric vehicle projects.

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The company’s financial director, John Lawler He justified the decision in October by pointing out that The company will work to “balance” the production of gasoline, hybrid and electric vehicles “based on what consumers want.”