Ford Has Steered Its Former EV Truck and Plant Plans in to a Ditch
2 days ago
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- Ford unveiled the F-150 Lightning, an all-electric pickup, in 2021 with production expected to start in 2022.
- The F-150 Lightning faced challenges including reduced range when towing and cultural resistance from some Americans who viewed EVs as a liberal movement.
- Ford announced Blue Oval, a $5.6 billion facility near Memphis, in partnership with SK Innovation, promising 5,800 jobs and significant economic impact.
- The joint venture between Ford and SK Innovation ended in December 2023, with Ford taking over Kentucky battery plants and SK On operating the Tennessee plant.
- Ford pivoted Blue Oval from producing electric trucks to gas-powered trucks, delaying the opening to 2029 and costing $19.5 billion.
- The F-150 Lightning will transition to an Extended Range Electric Vehicle (EREV) with a gas engine to extend range, abandoning the battery-only model.
- Ford's shift reflects broader challenges in the EV market, including lower-than-expected demand, high costs, and regulatory changes.
- EREVs are seen as a bridge technology, offering improved efficiency over traditional hybrids but still relying on gasoline.
- Despite setbacks, Ford remains committed to hybrids and EVs, aiming for 50% of global volume to be electrified by 2030.