Ford's Big Bet on Gas: A Shift in the Auto Industry

Ford is making a major change in its plans. The company will stop making some electric vehicles (EVs). This includes the electric version of the F-150 Lightning. Instead, Ford will focus more on gas-powered and hybrid cars. They will also hire more workers, even though some jobs will be lost at a battery plant in Tennessee. Ford expects that by 2030, half of its global sales will be hybrids, extended-range EVs, and pure EVs. This is up from 17% today. The company will also spread out a big financial charge over the next few years. This charge is due to canceling planned EV models, ending a battery joint venture, and other expenses. The shift in Ford's strategy comes as demand for EVs has weakened. The Trump administration's policies have made it harder for carmakers to sell EVs. For example, a tax credit for EV buyers expired in September. This led to a big drop in EV sales in November. The administration also froze fines for violating fuel-economy rules.Ford's change in strategy is a big deal. The company had invested heavily in EVs early this decade. But now, it's clear that EVs are not as popular as they once thought. Ford's decision to focus on gas-powered and hybrid cars shows that the auto industry is changing. It's a reminder that the future of cars is not set in stone. Ford is not giving up on EVs completely. The company is still planning to make more affordable EVs. These will be built by a special team in California. The first model is expected to cost about $30, 000 and go on sale in 2027. Ford's shift in strategy is a sign of the times. The auto industry is changing, and companies are having to adapt. It's a reminder that the future of cars is not set in stone. It's also a reminder that the auto industry is always evolving.