The country's automotive future doesn't look as electric as carmakers had once hoped. But it doesn't mean the EV industry is entirely dead.
South Korea's LG Energy Solution said on Wednesday that it has terminated an electric vehicle (EV) battery-supply deal with Ford Motor worth about 9.6 trillion won ($6.50 billion).
Matt Miller, Host of Bloomberg 'Open Interest' breaks down the latest from Ford as the company moves forward with a sweeping overhaul of its EV business. Ford Motor Co. will take $19.5 billion in charges tied to a sweeping overhaul of its electric vehicle business after struggling for years to make it profitable.
Ford cuts F-150 Lightning production as CEO Jim Farley shifts strategic focus to hybrids and affordable EVs, taking massive $19.5 billion charge.
Ford Motor Company (NYSE:F)'s decision to take $19.5 billion in write-downs tied to its electric vehicle assets and product roadmap drew mixed reactions from analysts, with UBS calling the move a “bold action” that could eliminate years of future losses but warning of significant near-term cash impacts and execution risks. Ford disclosed after markets closed that most of the charges will be recognized in the fourth quarter of 2025, including an $8.5 billion impairment to EV-related assets.
Ford's (F) electric vehicle strategy is changing gear.
Ford Motor Co. (NYSE:F) stock is up 0.4% to trade at $13.70 at last check, after the automaker announced it will pivot into hybrids and extended-range EVs in a move that will cost $19.5 billion.
Steve Westly, founder and managing partner at The Westly Group and former Tesla board member, joins 'Money Movers' to discuss Ford's shift away from all-electric vehicles, the global auto market, and more.
Ford CEO Jim Farley walked through Ford's Michigan design studio Monday afternoon, reflecting on how he was about to wipe out thousands of work hours on electric vehicles that he and his team had hoped would revolutionize the American auto industry.
Ford pulls back on big EV bets, pivots to hybrids and smaller EVs, and raises 2025 EBIT outlook. However, hefty charges and risks cloud the stock's appeal.
Ford Motor Company (NYSE:F) on Monday evening announced a major overhaul of its electric vehicle (EV) business, taking a $19.5 billion charge, mainly in the fourth quarter, after years of losses in its EV operations. The automaker said it would halt production of its all-electric F-150 Lightning this month, scrap a planned North American electric van, and shift a Tennessee plant under construction to produce gas-powered trucks instead of electric pickups.
Ford sees a way to capitalize on the AI boom by playing more into energy storage. The move has worked well for Tesla.