Ford could axe an electric version of one of its most popular vehicles as the company struggles to cope with the transition away from petrol and diesel vehicles.
Reports suggest that Ford is in “active discussions” to scrap the electric version of its F-150 pick-up truck.
The Wall Street Journal claims that the electric F-150, known as the F-150 Lightning, has fallen short of expectations, despite the success of the fossil-fuelled version.
Since 2023 alone, Ford has lost around $13billion (£9.9billion) with its electric vehicle investment, despite the Blue Oval saying the F-150 Lightning was as significant to the brand as the Model T.
Experts have also warned that the loss of the $7,500 (£5,712) tax credit for electric vehicles could further hammer sales, especially for larger SUVs and pick-up trucks.
Ford’s overall electric vehicle sales in the US fell 24 per cent year-on-year in October after the removal of the EV grant at the end of September.
CEO Jim Farley had previously warned that the market share of EVs could fall from between 10 and 12 per cent to just five per cent once the grant is removed.
He noted that the EV market would be “way smaller than we thought” following the removal of the New Clean Vehicle Credit, the Previously-Owned Clean Vehicle Credit, and the Qualified Commercial Clean Vehicle Credit.
READ MORE: Donald Trump declares war on electric cars as Ford boss warns EV interest will be ‘way smaller’
Ford is reportedly discussing whether to end production of the F-150 Lightning
|
GETTYCiting people familiar with the discussions, the Wall Street Journal reported that a final decision has not yet been made.
In a statement, a Ford spokesperson said: “We have good inventories of the F-150 Lightning and will bring Rouge Electric Vehicle Center back up at the right time, but don’t have an exact date at this time.”
Data shows that the F-150 has sold around 412,000 models in the US as of August, beating all other vehicles, including the Tesla Model Y and the RAV4.
The F-150 starts from $37,450 (£28,521), while the Lightning powertrain version costs at least $54,780 (£41,720).
Ford previously slowed production of the F-150 Lightning EV
|
REUTERSThe electric version of the F-150 has an EPA range of up to 320 miles and is the best-selling electric pick-up, although production has been paused since October due to a shortage of aluminium.
Ford announced earlier this year that it would be overhauling powertrain plans to develop an electric pick-up truck that would cost as little as £22,000.
The Ford Universal EV Platform will utilise state-of-the-art prismatic lithium iron phosphate (LFP) batteries to improve electric range and overall performance.
The Wall Street Journal noted that another major manufacturer, General Motors, had also considered axing some of its electric trucks.
The Ford F-150 is the best-selling vehicle in the United States
|
REUTERS
One of the leading automakers in the electric truck industry is Rivian, an American company backed by the likes of Amazon founder Jeff Bezos.
It announced last year that it had secured a huge $5billion (£3.8billion) investment from German brand Volkswagen to share EV plans and accelerate development.
VW CEO Oliver Blume said the partnership would bring “the best solutions to our vehicles faster and at lower cost”.
Similarly, Rivian founder RJ Scaringe said: “This partnership brings Rivian’s software and zonal electronics platform to a broader market through Volkswagen Group’s global reach and scale, while providing an expected $5B of capital to Rivian as we bring R2 and our next generation of vehicles to market.”