- Ford Motor will roughly halve planned production of its all-electric F-150 Lightning pickup truck next year.
- This represents a major shift after the automaker significantly increased electric vehicle factory capacity in 2023.
- Demand for electric vehicles has been slower than many expected as prices and interest rates remain high. But sales of the F-150 Lightning have risen steadily this year.
Ford workers produce the F-150 Lightning electric pickup truck at the automaker's Ford Rouge Electric Vehicle Center on Dec. 13, 2022.
Michael Wayland | CNBC
DETROIT – Ford Motor will roughly halve planned production of its all-electric F-150 Lightning pickup truck next year, a significant turnaround after the automaker significantly increased factory capacity for the electric vehicle in 2023.
The new production plans call for an average volume of about 1,600 F-150 Lightnings per week at the Ford Rouge Electric Vehicle Center in Dearborn, Michigan, beginning in January, according to a source familiar with the decision. The car manufacturer had recently planned to produce an average of around 3,200 of the vehicles per week.
“We will continue to adjust production based on customer demand,” a Ford spokeswoman said Monday.
Ford executives recently said the automaker will adjust production to meet demand as the company cancels or postpones $12 billion in upcoming electric vehicle investments.
The production cuts for the F-150 Lightning were first detailed in a planning memo to suppliers obtained by Automotive News. According to the release, the memo cited “changing market demand” for the cuts.
Demand for electric vehicles has been slower than many expected as prices and interest rates remain high. Automakers are working to reduce the cost of producing all-electric vehicles while also rethinking production and product plans for the coming years.
Ford spent six weeks earlier this year increasing F-150 Lightning capacity at its Michigan plant, which is expected to be able to produce 150,000 of the all-electric trucks, three times the original planned production.
Sales of the F-150 Lightning have increased steadily in 2023, reaching a monthly record of about 4,400 units sold in November. The company has sold just 20,365 trucks this year through November, up 54% from last year.
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