Written by by TYLER DURDEN at zerohedge.com
Less than a week after Elon Musk unveiled his apocalypse-surviving, Porsche-out-accelerating, bulletproof CyberTruck, Ford’s EV effort is crashing on the Biden-administration ignited fire of unaffordability and high costs.
Having signaled in October during its Q3 earnings call plans to “adjust” production of its all-electric vehicles and delay about $12 billion in investments due to softening demand for higher-priced premium electric vehicles; a memo to suppliers – which was viewed and reported first tonight by Automotive News – indicated plans beginning in January to produce an average of about 1,600 Lightning trucks a week at its Rouge Electric Vehicle Center in Dearborn, Michigan.
Ford had planned for an annual production capacity of 150,000 Lightnings a year, or about 3,200 a week.
That means its production target for 2024 has been halved.