Ford Motor Company is following through on plans to scale back production of its all-electric F-150 Lightning pickup that President Joe Biden promoted. Joe and his Democrats like to pick winners and losers instead of letting the market decide.
Ford just doesn’t have the buyers.
Ford Motor Co. said that it would reduce the number of workers making its F-150 Lightning truck as demand for electric vehicles continues to weaken.
About 1,400 employees will be impacted as the Rouge Electric Vehicle Center transitions to one shift beginning April 1, the Dearborn, Michigan-based automaker said Friday in a statement. They will go to other factories.
Last month Bloomberg reported that Ford would cut production goals for the F-150 EV in half this year.
In a sign that traditional gasoline-powered vehicle demand remains strong, Ford also said that it was hiring nearly 900 new employees and adding 700 employees from its Rouge Complex for a third shift at its Michigan Assembly plant. This will allow the automaker to increase production of Bronco and Bronco Raptor sport-utility vehicles, and Ranger and Ranger Raptor pickup trucks.
Ford shares fell 0.8% to $10.90 as of 9:38 a.m. in New York on Friday.
The high prices and spotty charging infrastructure are the problems most often mentioned.