Automotive News reported this week that Ford is planning to roll back production volume on its segment-leading F-150 Lightning EV pickup next year by half. Citing projected soft consumer demand for EVs, Ford’s decision comes on the heels of General Motors’ lousy Q3 earnings report, which saw the Detroit giant giving up on producing 400,000 EVs on its Ultium platform by the middle of 2024 (think Hummer EV and GMC Sierra EV). GM has only sold a few hundred of its Hummer EVs this year, but the more accessible F-150 Lightning had huge wait lists as Ford struggled through production slowdowns and parts shortages to meet orders.
All of this reeling EV news from the legacy automakers has been overshadowed by Tesla finally rolling out deliveries of its life-sized-Hot-Wheels stainless steel Cybertruck. With over a million pre-orders in the hopper for the Cybertruck but only a handful of vehicles currently in customers’ hands, will a predicted market-wide slump in EV demand rain on Tesla’s janky parade? Unlike the other OEMs, Tesla has no ICE or hybrid models to fall back on, and Ford’s CEO Jim Farley said Dearborn will be shifting its focus to hybrid models in the near term, especially for its SUV and truck platforms. The Lightning came to market with 563 horsepower and 775 pound-feet of torque, as well as 2,000 pounds of payload and 10,000 pounds of towing capacity with the 9.6-kilowatt battery option. Many owners have fought to achieve the expected 240-300 miles of range, especially when towing.
While future growth in the EV market may not be as robust as expected, American EV ownership surpassed 1 million electric vehicles this year for the first time. This all seems to signal that the electric revolution, even though it’s surely begun, won’t take over as quickly as many had predicted. The incredibly complex automobile market will likely make room for many different kinds of propulsion for many years to come as most automakers keep their portfolios as diverse as possible.
Read more: Have We Found the Best Electric Vehicle for Overlanding?
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