In response to the slowdown in demand for electric vehicles, Ford reportedly plans to significantly cut production plans for next year's all electric F-150 lightning pickup trucks.
According to insiders, the new production plan requires Ford's Rouge Electric Vehicle Center in Dearborn, Michigan to produce an average of approximately 1600 F-150 Lightning Pickups per week starting from January next year.
Ford originally planned to produce 150000 F-150 lightning pickup trucks per year, which is approximately 3200 per week. This means that its production target for 2024 has been halved.
According to a plan memorandum obtained by Automotive News for suppliers, the reason for the reduction in production of F-150 lightning pickup trucks is "constantly changing market demand.".
A spokesperson for Ford said on Monday, "We will continue to produce according to customer needs."
Ford's plan to cut production of F150 lightning pickup trucks marks a significant reversal for the automaker after significantly increasing its production capacity for this electric vehicle. Earlier this year, Ford spent six weeks increasing the production capacity of F-150 lightning pickup trucks at its Michigan factory, which is expected to produce 150000 F150 lightning pickup trucks annually, three times the initial planned production.
However, the sales of F-150 lightning pickup trucks have continued to steadily increase this year, setting a monthly sales record of approximately 4400 units in November. As of November this year, the company has sold 20365 units of this pickup truck, an increase of 54% compared to the same period last year.
Due to weak demand for electric vehicles, Ford announced in October this year a delay of $12 billion in its electric vehicle investment plan, which includes plans to delay the construction of a second battery factory in Kentucky.
Not only Ford, but also several car companies have recently reduced their ambitious expansion plans. Automakers are working hard to reduce the cost of producing all electric vehicles while reconsidering their production and product plans for the coming years.
Due to high prices and interest rates, the demand for electric vehicles is lower than many people's expectations. In addition, the lack of charging options has also hindered the sales of electric vehicles.
Ford is attempting to address this issue by implementing new measures, such as launching the F-150 Lightning Flash (a moderately priced electric truck) and partnering with Tesla to adopt its electric vehicle charging plug.