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Ford cancels $6.5B EV battery deal, halts EV production, and shifts to hybrids due to weak demand and policy changes.
Ford has canceled a $6.5 billion EV battery supply deal with LG Energy Solution, citing shifting market conditions, reduced demand, and policy changes under the Trump administration.
The move, part of a broader retreat from electric vehicles, includes halting production of several EV models and taking a $19.5 billion writedown.
Ford is also dissolving its joint venture with SK On, restructuring battery operations in the U.S. and shifting focus to hybrid technology, including an extended-range F-150 Lightning.
The cancellations reflect growing challenges in the EV sector, including weakening consumer demand and regulatory uncertainty.
Ford cancela un acuerdo de batería de EV de $ 6.5B, detiene la producción de EV y cambia a híbridos debido a la débil demanda y los cambios en las políticas.