Ford Backs Out of Massive Battery Deals

Earlier this week, Ford scrapped the fully-electric F-150 Lightning and pivoted away from aggressive EV plans after losing 13billiononthecategorysince2023.Asconsumerdemandwanesandthecompanyplanstotakeanother13 billion on the category since 2023. As consumer demand wanes and the company plans to take another 19.5 billion hit in Q4, Ford is shifting gears toward extended-range gas-powered vehicles and hybrids. Most Read on IEN: The ripple effects throughout the supply chain will be far-reaching, including its $6.5 billion deal with LG Energy Solutions to make some 500,000 batteries per y ...