Ford Motor will cut planned production of its all-electric F-150 Lightning pickup roughly in half next year, marking a major reversal after the automaker significantly increased plant capacity for the electric vehicle in 2023.
The new production plans call for average volume of around 1,600 F-150 Lightnings a week at Ford’s Rouge Electric Vehicle Center in Dearborn, Michigan, starting in January, according to a source familiar with the decision. The automaker most recently planned to produce roughly 3,200 of the vehicles on average per week.
The production cuts for the F-150 Lightning were first detailed in a planning memo to suppliers obtained by Automotive News. The memo cited “changing market demand” for the cuts, according to the publication.
“We’ll continue to match production with customer demand,” a Ford spokeswoman said Monday. Ford executives have recently said the automaker will match production to demand, as the company cancels or postpones $12 billion in upcoming EV investments.
EV demand has been slower than many expected, as prices and interest rates remain high. Automakers are working to cut costs of producing all-electric vehicles, while rethinking production and product plans for the years ahead.
Sales of the F-150 Lightning have steadily increased in 2023, notching a monthly record of roughly 4,400 sold in November. The company has only sold 20,365 of the trucks this year through November, up 54% from a year earlier.
Ford spent six weeks earlier this year to increase capacity of the F-150 Lightning at the Michigan plant, which was expected to be capable of producing 150,000 of the all-electric trucks, three times its initial planned output.
