🚙 Ford Draws Up A New EV Roadmap

Ford just declared it will take a $19.5 billion charge tied to its EV investments and is effectively scrapping its next-generation EV lineup. Instead, Ford plans to shift its focus toward gas models, hybrids, and extended-range electric vehicles that better match current U.S. buyer demand. The company isn’t ditching electrification—it’s swapping the “all-in, right now” script for something closer to “practical powers, sustained uptime.”

The charge itself can be broken into three main parts. About $8.5 billion is tied to canceled future EVs and the associated asset markdowns. Another $6 billion is related to dissolving a battery joint venture with SK On, and about $5 billion in additional program-related expenses. Ford said only about $5.5 billion of the total will impact cash, incurred next year and into 2027.

On the product strategy, Ford said hybrids will drive growth, and it expects its global mix of hybrids, extended-range EVs, and pure EVs to reach 50% of vehicle sales by 2030, up from 17% today. It also said the F-150 Lightning will eventually be remade into an extended-range electric truck concept that uses a gas-powered generator to charge the battery on the go—aiming for 700 miles of range without needing to recharge or refuel. And while the “next-gen everything” EV era is being shelved, Ford’s future EV focus centers on a more affordable family of models being developed by its skunkworks team in California, with the first expected to be a midsize pickup priced around $30,000 and set for 2027.

Ford is also pointing its battery assets at a booming adjacent market — energy-storage batteries for utilities and data centers. Ford said it will invest $2 billion over the next two years to launch that operation using factories in Kentucky and Michigan. Ford also raised its 2025 adjusted EBIT guidance to about $7 billion (from $6–$6.5 billion), and said it expects its EV business to become profitable in 2029 — a navigation change that’s less “retreat” and more "calculating a better route".

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