Ford employees produce the electric F-150 Lightning pickup on the automaker’s Ford Rouge Electric Vehicle Center on Dec. 13, 2022.
Michael Wayland | CNBC
DETROIT — Ford Motor will minimize planned production of its all-electric F-150 Lightning pickup roughly in half subsequent 12 months, marking a significant reversal after the automaker considerably elevated plant capability for the electric car in 2023.
The new production plans name for common quantity of round 1,600 F-150 Lightnings every week at Ford’s Rouge Electric Vehicle Center in Dearborn, Michigan, beginning in January, in response to a supply accustomed to the choice. The automaker most just lately planned to supply roughly 3,200 of the autos on common per week.
“We’ll proceed to match production with buyer demand,” a Ford spokeswoman stated Monday.
Ford executives have just lately stated the automaker will match production to demand, as the corporate cancels or postpones $12 billion in upcoming EV investments.
The production cuts for the F-150 Lightning have been first detailed in a planning memo to suppliers obtained by Automotive News. The memo cited “altering market demand” for the cuts, in response to the publication.
EV demand has been slower than many anticipated, as costs and rates of interest stay excessive. Automakers are working to chop prices of producing all-electric autos, whereas rethinking production and product plans for the years forward.
Ford spent six weeks earlier this 12 months to extend capability of the F-150 Lightning on the Michigan plant, which was anticipated to be capable of producing 150,000 of the all-electric vehicles, thrice its preliminary planned output.
Sales of the F-150 Lightning have steadily elevated in 2023, notching a month-to-month report of roughly 4,400 bought in November. The firm has solely bought 20,365 of the vehicles this 12 months via November, up 54% from a 12 months earlier.
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