Demand for the Ford F-150 Lightning pickup must be so abysmal that the legacy automaker is reportedly planning to shutter the production line for the EV truck in the coming weeks through the end of the year. This should be no surprise to readers, given that the Tesla Cybertruck has become America’s best-selling electric pickup.
“Ford Motor Co. plans to stop building its F-150 Lightning from mid-November through the end of the year amid lower-than-expected demand for the electric pickup,” Automotive News’ Michael Martinez reported on Thursday morning.
At the start of October, John Lawler, Ford’s vice chair and CFO, told reporters in a conference call, “We’re seeing a tremendous amount of competition,” adding, “In fact, S&P Global … said that there are about 143 EVs in the pipeline right now for North America — and most of those are two-row and three-row SUVs.”
Ford scrapped plans to roll out an all-electric three-row SUV in August. This year has been doom and gloom for legacy automakers (from the US to Europe) as they aggressively scale back on EV investments.
The reality is that the Biden-Harris administration, lawmakers, and Wall Street, all wearing climate crisis blinders, stoked the most massive green energy bubble that collapsed. In doing so, legacy automakers who poured billions of dollars into EVs, severely misjudged consumer demand – and now paying the consequences: […]
— Read More: www.zerohedge.com
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