Ford Motor Co. is reversing its electric vehicle strategies as it confronts financial losses and declining consumer demand.
The company announced plans to invest in more efficient gasoline engines and hybrid electric vehicles. This shift comes despite Ford’s substantial investment in electric technology.
Ford had previously committed billions of dollars to its electric vehicle lineup. However, the automaker will no longer produce the F-150 Lightning electric pickup truck. Instead, Ford will introduce an extended range version of the vehicle.
Since 2023, Ford has reported a $13 billion loss on its electric vehicle investments.
