Ford pauses F-150 Lightning production as electric vehicle demand declines
Ford is pausing production of its F-150 Lightning electric pickup truck due to declining consumer interest in electric vehicles. The halt will begin on November 15 and last until January 6, 2025.
Approximately 730 hourly employees will be furloughed during this period, though not all will be off work for the entire duration. Ford has previously reduced the truck's price to boost sales amid sluggish demand.
The company reported a $1.2 billion loss in its electric vehicle unit for the third quarter and expects losses of $5 billion for 2024. Ford is shifting focus to hybrid models and plans to develop more affordable vehicles.