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After confirming plans to end production of the all-electric F-150 Lightning, Ford’s CEO said the $70,000 EV pickup didn’t make sense. Instead, Ford is betting a new EREV will.
Why is Ford canceling the F-150 Lightning EV pickup?
Ford dropped the news last night, confirming that production of the current F-150 Lightning has officially ended at its Rouge EV Center in Dearborn, Michigan.
The announcement is part of a broader shake-up to its Ford+ plan, designed to boost profits while putting the company on track for growth through software, connected experiences, and more.
One of the biggest changes is Ford’s shift from larger electric trucks and SUVs to smaller, more affordable EVs. The company already scrapped plans for a three-row electric SUV last year, but now Ford is dropping the Lightning EV pickup with plans to replace it with an extended-range electric vehicle (EREV).
Ford’s CEO Jim Farley explained during an interview with CNBC that “the very high-end EVs, the $50K, 70K, $80,000 vehicles, they just weren’t selling.”
After evaluating the market, Farley said the company will instead build up its hybrid lineup that will be “better for the company’s profitability, better for shareholders, and a lot of new American jobs.”
Although Ford expects to incur about $19.5 billion in charges from the changes, the company now expects its EV business, Model e, to reach profitability by 2029.
Farley said this “road to profitability didn’t exist a month ago.” By 2030, Ford now anticipates 50% of its global sales will be hybrids, EREVs, and EVs. That’s up from just 17% this year. Ford is the third best-selling hybrid brand in the US, but it sells more hybrid trucks than any of its rivals.
As much as Farley loved the $70,000 electric truck, Ford’s CEO said it just wasn’t selling. An EREV is a “better solution,” according to Farley. He added the next-gen EREV pickup will go “700 miles on a tank of gas for 90% of the time, is all-electric, and goes 0 to 60 mph in 5 seconds.”
Doug Field, Ford’s chief EV, digital, and design officer, said the “next-generation Lightning EREV is every bit as revolutionary” as the all-electric pickup.
Ford is still planning to launch a series of low-cost EVs, with prices starting at around $30,000 based on its Universal EV Platform. The first vehicle will be a “fully connected” midsize EV pickup, similar in size to the Ranger or Maverick. It will be assembled at Ford’s Louisville Assembly Plant, starting in 2027.
While F-150 Lightning sales fell 72% last month following the expiration of the $7,500 EV tax credit, it remained the best-selling EV pickup in the US through the third quarter.
Ford’s EV business, Model e, lost another $1.4 billion in Q3, bringing the total to $3.6 billion through the first nine months of 2025. Last year, Model e lost about $5.1 billion, and in 2023, it reported a $4.7 billion loss.
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