Ford To Curtail EV Plans, Take $19.5 Bln Charge, Add Thousands Of U.S. Jobs

(RTTNews) - Ford Motor Co. (F) announced it will no longer produce select larger electric vehicles, citing eroded business cases from weaker demand, high costs, and regulatory changes. The automaker expects to record approximately $19.5 billion in special items, mostly in the fourth quarter of 2025, with additional charges in 2026 and 2027. To support its redeployment of capital, Ford plans to hire thousands of new employees across the United States in the coming years.

The company is sharpening its Ford+ plan by prioritizing affordability, customer choice, and profitability. The company will expand hybrid and extended-range electric options while focusing pure EV development on its new Universal EV Platform, designed for smaller, more affordable models.

As part of the strategy, Ford will launch a next-generation F-150 Lightning with extended-range electric architecture, introduce a midsize pickup on the Universal EV Platform in 2027, and repurpose facilities in Tennessee and Ohio to expand truck and van production.

Ford is also entering the battery energy storage market, converting its Kentucky site to produce advanced systems for data centers and utilities, with plans to deploy at least 20 GWh annually by late 2027. These moves align with Ford's long-term goal of achieving carbon neutrality across its vehicles, manufacturing, and supply chain by 2050.