Ford is cutting its production goals for one of its signature electric vehicle (EV) product lines as persistent problems continue to dog the EV industry, according to Automotive News.
The company sent a memorandum to its suppliers detailing its decision to reduce production of F-150 Lightning pickups in 2024, slicing its target of 3,200 cars each week down to 1,600 units, according to Automotive News. The reduction is a major deviation away from the company’s oft-stated goal to produce 400,000 EVs by the middle of 2024, and stands as the latest sign of trouble for President Joe Biden’s EV agenda.
The company pointed to lower-than-anticipated levels of consumer demand for EVs as the key factor in its move to slash production, according to Automotive News. Slower demand growth has been an industry-wide problem in recent months. (RELATED: EXCLUSIVE: Watchdog Requests Investigation…
