From Breitbart: Ford said Monday it expected to take about $19.5 billion in charges as it retreats from the electric vehicle business, a massive hit as the automaker pivots to traditional gas vehicles along with hybrid and plug-in hybrid models in place of EVs.
The Wall Street Journal reports that in a stunning blow to the U.S. auto industry’s ambitious EV plans, Ford Motor announced on Monday that it expects to incur approximately $19.5 billion in charges, primarily due to its struggling electric vehicle business. The staggering write-down marks the largest impairment taken by a company in Detroit’s history and underscores the challenges faced by automakers as they grapple with lackluster demand for EVs.
Faced with mounting losses totaling $13 billion in its EV division since 2023, Ford has decided to shift its strategy, focusing on bolstering its lineup of gas-powered vehicles while transitioning to hybrid and extended-range electric models that incorporate onboard gasoline engines. The move aims to pull back from loss-making assets and redirect capital to more profitable models.
Ford CEO Jim Farley acknowledged the necessity of the pivot, stating, “Instead of plowing billions into the future knowing these large EVs will never make money, we are pivoting. We now know enough about the U.S. market where we have a lot more certainty in this second inning of reduced-emissions powertrains.”
The Wall Street Journal noted that Ford is now shifting to produce a low-cost EV truck for sale by 2027, but will stop making an EV version of its F-150 pickup truck, called the Lightning, and will instead make an extended-range version of the truck.
Ford is also ditching its previous plans for another electric truck and for electric commercial vans.
A battery EV factory in Kentucky – which Ford and its former partner SK spent nearly $6 billion to build – is also being repurposed into a battery-storage business for customers such as utilities, wind- and solar-power developers, and massive data centers that train artificial intelligence, the WSJ reported.
The battery factory, which had been operating well below capacity, was making batteries for the now-cancelled electric F-150 pickup.
The WSJ noted that the Biden administration was seeking to push the auto industry into a “full and rapid embrace of EVs.”
Now, after losing a whopping $19.5 billion, Ford has realized Americans don’t want electric vehicles forced upon them after all.
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Ford will take $19.5 billion in charges to write down EV investments, among the largest impairments taken by a company https://t.co/L3EjkEaNOD
— WSJ Business News (@WSJbusiness) December 15, 2025
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