Ford Motor Co. has announced a pivot in its future electric vehicle strategy, a move that will cost it $19.5 billion to restructure its business plan, but the automaker will keep the all-electric F-150 Lightning pickup in production.

Ford Motor Co. is pivoting away from its once-ambitious electric vehicle plans amid financial losses and waning consumer demand for the vehicles.

Ford confirms it has ended production of the F-150 Lightning, and will relaunch it as an "extended range electric vehicle" (EREV). It's the end of an era for the iconic pickup truck, which debuted in 2022.

This revamp of the F-150 Lightning is part of Ford's latest approach to electric vehicles. The company projected that by 2030, half of its global volume will be comprised of hybrids, extended-range EVs and electric vehicles,

Ford’s announcements today can’t be said to have come out of the blue. Rumors of the F-150’s demise have been circulating for more than a month, and last week SK On ended its joint venture with Ford that was building a pair of EV battery plants in Kentucky and Tennessee.

Ford says it is "following the customer" in discontinuing its large electric pickup, which was well-received but never profitable. Ford will keep the Lightning name alive as a plug-in hybrid.

Ford Motor Co. intends to convert a Kentucky electric vehicle battery plant so it can produce cells for energy storage to power the electric grid, as the automaker seeks to repurpose EV manufacturing capacity as sales of battery-powered cars plunge in the US,

The move comes as a response to the Trump administration's waning support for electrification and a weakening consumer market.

No, Ford is not bringing the Ranger plug-in hybrid electric vehicle (PHEV) to the US. Ford shut down rumors that the midsize pickup would launch in the US. Here’s what’s coming instead. Although Ford is planning to expand its hybrid lineup in the US over the next few years, the Ranger will not be included.