Key Highlights
- Ford is taking a $19.5 billion hit due to reduced electric vehicle production.
- The company is shifting focus to hybrid vehicles and battery-energy storage.
- Several planned electric vehicle models, including the F-150 Lightning and next-generation electric trucks, are being scrapped.
- This move represents a significant retreat from aggressive EV plans amid declining demand.
- The decision is influenced by the Trump administration's policies affecting the EV market.
