For years, Democrats promised electric vehicles would usher in a new era of American manufacturing. The Biden administration sold the idea as inevitable progress. Cleaner. Cheaper. Better for workers and families.
Ford Motor Company just shattered that illusion.
In a stunning reversal, the Detroit automaker confirmed it is pulling the plug on the F-150 Lightning, the electric pickup that was supposed to prove Americans were ready to abandon gas powered trucks for government approved alternatives.
What Ford revealed next made the collapse impossible to ignore.
The company is taking a staggering $19.5 billion charge tied largely to its failed electric vehicle push, with most of the hit landing in the fourth quarter. The Lightning, once hyped as the future of trucks, is officially dead.
Production at Ford’s Rouge Electric Vehicle Center in Dearborn has already ended.
