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flag Ford slashes EV plans, takes $19.5B writedown, pivoting to hybrids and gas-powered trucks.

flag Ford Motor has announced a $19.5 billion writedown and is scaling back its electric vehicle strategy, canceling several EV projects including the F-150 Lightning and a next-generation electric truck, due to weak demand, high costs, and shifting U.S. policies. flag The company will focus on gas-powered trucks, hybrids, and extended-range EVs, with a new affordable midsize electric pickup expected by 2027. flag Ford is also entering the battery energy storage market, investing $2 billion to produce systems for data centers using facilities in Kentucky and Michigan, aiming for 20 GWh of annual output by 2027. flag The move reflects a broader industry shift toward pragmatic electrification, with Ford targeting 50% of global sales from hybrids and extended-range vehicles by 2030.

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