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Friday, January 19, 2024 8:59:15 AM
By: Investing | January 19, 2024
(Reuters) -Ford Motor said on Friday it would reduce production of its F-150 Lightning pickup truck, as demand for electric vehicles (EVs) slows.
The automaker sees continued growth in global EV sales in 2024, though expects it to be "less than anticipated".
Ford (NYSE:F) said a few dozen employees could be impacted at component plants supporting F-150 Lightning production.
Legacy car manufacturers have sharpened their focus towards hybrid models over the past year as buyers snapped up more of those in place of all-electric models.
Ford also said about 1,400 employees would be impacted as its Rouge Electric Vehicle Center transitions to one shift effective April 1.
The Detroit automaker added that it would add a third crew and create nearly 900 jobs at its Michigan assembly plant to increase production of Bronco SUVs and Ranger pickups.
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