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Ford Tapping Brakes on EV Plans?

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Ford is is scaling back its Marshall, Michigan battery factory. What does this mean for its EV plan?
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Ford announced on Tuesday that it’s scaling back its planned output of batteries from it’s new Marshall, Michigan battery factory that was once in limbo by 43%. It’s also reducing expected employment from about 2,500 jobs to 1,700 jobs, according to CNBC & Ford.

This is on top of Ford’s announcement last month to cut or delay $12 billion in previously announced EV investments. Not to mention the increased labor costs after the new UAW agreement. The new deal will add $850-$900 per vehicle according to Ford’s CFO.

Ford is reading the market, of course. EV sales are slowing. General Motors abandoned its EV target through the first half of 2024.

“…clearly, the growth isn’t at the rate that we and others had expected,” Ford Chief Communications Officer Mark Truby said.

So what do we think? No EV Broncos for the foreseeable future?

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