"Ford Motor said the costs came from its decision to make fewer electric vehicles than it had planned and more hybrids that use both gasoline engines and batteries."
"Ford Motor said Monday that it would scale back plans to produce electric vehicles and take a $19.5 billion hit to its profit to cover the costs of a major change in strategy.
The announcement amounted to an admission by Ford that it had overestimated demand for battery-powered vehicles and underestimated the staying power of vehicles powered by gasoline and diesel. Other big automakers, including General Motors and Stellantis, have also recently changed their plans and placed a far greater emphasis on combustion engine vehicles and hybrids.
The U.S. auto industry’s move away from electric vehicles is also a result of a reversal in government policies since President Trump took office in January. His administration has slashed government incentives for electric vehicles while promoting fossil fuels. This month, the administration announced plans to significantly weaken fuel economy standards, which would reduce automakers’ incentive to make electric cars."
Jack Ewing reports for the New York Times December 15, 2025.
SEE ALSO:
"Tariffs, Tight Margins, EV Slowdown Drive Auto Industry Consolidation" (Forbes)
"Ford Pulls The Plug On The All-Electric F-150 Lightning Pickup Truck" (NPR)
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