Ford is considering killing off the F-150 Lightning. Nothing has been finalised yet but executives are weighing whether to continue production of their electric pickup truck.
The decision comes after mounting losses and challenging market conditions that never quite materialised as hoped.
The Lightning launched a little more than three years ago as the fully electric version of Ford’s popular full-size pickup.
Initial interest seemed strong with more than 200,000 non-binding reservations. That interest failed to convert into actual sales though.
Ford is only on track to sell about 30,000 Lightnings this year. That’s not many when you expect to move more than 750,000 F-Series pickups annually.
Sales through October reached just over 24,550 units, roughly level with last year.
Since going on sale in 2022, Ford has sold less than 100,000 Lightning models total.
The company built the capacity to produce as many as 150,000 units per year. That’s easily more than three times the actual demand.
Ford has reportedly lost about $13 billion on EVs since 2023. That’s a staggering amount even in the business world.
The Lightning played a significant role in those losses. Ford President Kumar Galhotra said last month the company’s main priority was gas-powered models.
He declined to give a timeframe for when Lightning production might restart after pausing due to supply chain disruptions.
A fire at supplier Novelis caused an aluminium shortage that forced Ford to temporarily halt Lightning production.
The company also delayed the next generation F-150 for at least a year while figuring out the best path forward.
Pricing hasn’t helped either. The least expensive Lightning now starts at about $55,000. That’s considerably more than the roughly $40,000 base price originally promised.
The US government’s ending the federal EV tax credit made the effective cost even higher.
Ford admitted recently that customers interested in EVs tend to prefer smaller, less expensive options.
The company isn’t giving up on electric vehicles completely though. Back in August, Ford revealed a new EV platform and production system allowing it to build several new EVs more cheaply.
That might let it compete with Chinese automakers currently threatening Ford’s market position.
The first vehicle on the new platform will be a smaller electric truck. Instead of something massive enough to crush children, this one targets affordability.
Ford says it will start at about $30,000 without tax credits. It offers as much passenger room as a Toyota RAV4 while being just as quick as a four-cylinder Mustang.
That truck isn’t expected until sometime in 2027 though. If Ford kills the Lightning now, there would be a significant gap before its smaller alternative hits dealer lots.
From Ford’s perspective, if sales don’t justify continuing Lightning production, ending it might be for the best.
The reported discussions follow Stellantis’s ending plans for an all-electric Ram 1500 pickup and General Motors’s significantly scaling back electric truck plans.
