00:00Ford Motor announces it will take a US$19.5 billion ride down and cancel several electric vehicle models amid weak demand and high costs.
00:11The Detroit automaker says it will pivot towards hybrid, gas-powered trucks and a new battery storage business in response to the Trump administration's policies.
00:23Remaining EV efforts at Ford will focus on a family of smaller, more affordable vehicles.
00:30Ford's decision to cancel larger electric models, including the F-150 Lightning, marks a major shift as the industry struggles with slower-than-expected EV adoption.
00:40The company also canceled plans for new electric commercial vans in Europe and North America, replacing them with gas and hybrid models to be manufactured at its Ohio assembly plant starting in 2029.
00:51Ford said it would also launch a battery energy storage business, converting a Kentucky plant to make products for data centers and power companies.
01:00The company aims to invest around US$2 billion over two years for that initiative, targeting a supply of 20 gigawatt-hours of annual capacity by late 2027 to position it as a major player in the fast-growing market.
01:14Ford's announcements follow President Donald Trump's move to revoke tougher fuel economy standards introduced by his predecessor Joe Biden, policies that had prompted American companies to shift to electric vehicles.
01:26The company reversion crisis, the company, workers in the 1960s of Kabul, policies that look around US$2 billion over $800 billion over $9,500 billion over $500 billion over $10 billion over $100 billion.
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