Ford will stop making the all-electric F-150 Lightning and replace it with an extended-range version|Elise240SX|CC BY-SA 4.0

Ford Motor is hitting the brakes on its electric-vehicle push after demand fell short of expectations. The company said it will take about $19.5 billion in charges, mostly tied to its EV business, one of the biggest write-downs in the US auto industry.

Since 2023, Ford has lost $13 billion on EVs, forcing it to rethink its plans.

Instead of betting big on all-electric models, Ford will focus more on gas vehicles, hybrids, and EVs that include a small gasoline engine. It will stop making the all-electric F-150 Lightning and replace it with an extended-range version.

Ford says many buyers want affordable, powerful vehicles without sacrificing range or utility.

By 2030, about half of Ford’s global sales will come from hybrids, extended-range EVs, and electric vehicles, up from 17% today. The company still plans a $30,000 electric pickup by 2027.

The next F-150 Lightning will use both electric and gasoline power, offering up to 700 miles of driving range.