Ford retreats from EVs, takes $19.5 billion charge as Trump policies grip industry

Ford announced a significant $19.5 billion writedown and is discontinuing several electric vehicle models, including the F-150 Lightning successor and planned electric vans. This strategic pivot back to gas and hybrid vehicles is driven by weakening EV demand and policy shifts. The company aims for 50% of its global mix to be hybrids, extended-range EVs, and pure EVs by 2030.