Ford Cuts Battery Orders as EV Losses Top $100,000 Per Car
· Automaker is shifting its strategy for EVs as demand wanes
· Suppliers in South Korea, China grapple with unsold inventory
The 2024 Ford F-150 Lightning Platinum electric pickup truck.
Photographer: Bing Guan/Bloomberg
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By Keith Naughton, Archie Hunter, and Heejin Kim
May 11, 2024 at 5:48 AM GMT+10
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Ford Motor Co. has begun cutting orders from battery suppliers to stem growing electric-vehicle losses, according to people familiar with the matter, as it throttles back ambitions in a rapidly decelerating market for plug-in models.
Ford continues to maintain partnerships with its batterysuppliers, which include South Korea’s SK On Co. and LG Energy Solution Ltd., as well as China’s ContemporaryAmperex Technology Co. Ltd., said the people, who asked not to be identified revealing internal decisions.
Ford Cuts Battery Orders as EV Losses Top $100,000 Per Car·...
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