Ford Cuts F-150 Lightning Production in Half Amidst Declining EV Demand

Ford is reducing its production target for the 2024 F-150 Lightning from 3,200 trucks per week to 1,600 trucks per week, reflecting slower-than-expected growth in the EV market. The company is also cutting back on EV spending and downsizing a battery factory under construction. Ford CEO Jim Farley cited high prices and inadequate charging infrastructure as factors affecting EV demand. Despite the revision, November saw record sales for the F-150 Lightning, and Ford plans to continue matching production to customer demand. The launch of the Tesla Cybertruck may also impact the F-150 Lightning's performance.