Breaking News

Govt Enforces ‘Melt and Pour’ Rule for All Steel in Public Projects Nippon Steel expected to finalize U.S. Steel acquisition at $55 per share NMDC Limited reports a 38% drop in Q4 FY24 consolidated net profit RINL to Raise $23 Million Through Land Sales Amid Crisis

US firm Ford lowers production of F-150 Lightning pickup truck as EV demand falls

483397_1705744739_small.png
USA 20 Jan 2024 03:28 PM IST Business Standard

Ford Motor, a US-based automobile manufacturer, has stated that it would lower the production of its F-150 Lightning pickup truck as demand for electric vehicles (EVs) slows. The company claimed to cut production at its Michigan Rouge EV Center to one shift starting April 1. In October, the automaker said it would temporarily cut one of three shifts at the Michigan plant that builds the electric F-150 Lightning pickup truck. 

The announcement is the current sign of softening demand for EV trucks. In October, General Motors postponed opening a $4 billion electric truck plant in Michigan for a year. Ford told suppliers in December that it planned to generate around 1,600 F-150 Lightning EV trucks per week starting in January, roughly half of the 3,200 it previously had planned. 

The production cut comes at a time when Detroit automakers are protesting that the Biden Administration is going too far with proposals to use emissions rules that would result in 67% of all new vehicles in 2032 being EVs. Ford stated the move impacted 1,400 workers at the plant. Roughly 700 will transfer to its Michigan Assembly Plant, and others will be placed in roles at the Rouge Complex or other facilities in Michigan or take advantage of a special retirement programme.