Ford has announced that it is cutting production of its electric F-150 Lightning pickup trucks as the demand for electric vehicles continues to plummet.
The latest knock to the EV industry came Friday, when Ford announced it would move about 1,400 of the 2,100 employees from its Lightning plant in Dearborn, Michigan, The Wall Street Journal reported.
The employees will be shuffled around to other Ford factories to ramp up production of existing popular gasoline-power vehicles.
Morningstar reported some of the workers will take advantage of their union’s recently-negotiated retirement incentive program.
Another 700 will be moved to the company’s Michigan Assembly Plant, where a third crew will be added to boost production of gas-powered Bronco sports utility vehicles and Ranger pickups.
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In total, the company said its decision to cut production on the F-150 Lighting is expected to create 900 jobs.
Ford’s stock price saw a jump of more than half a percent Friday morning after the news was announced.
Consumers have shown an increasing preference for traditional vehicles in recent months and throughout the last year.
Batteries for even the most basic Tesla models can run anywhere from $5,000 to $20,000 — or higher, Business Insider previously noted.
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Those same batteries are prone to spontaneously catching fire, putting structures at risk, while also taking firefighters tens of thousands of gallons of water to put out.
Even then, the cars must be isolated, as the batteries are prone to reigniting — in some cases, days later.
Many new electric vehicle drivers have also expressed frustration over how they perform in extreme temperatures.
Charging the vehicles in frigid temperatures can slow the process — costing customers at charging stations extra dollars.
Meanwhile, the driving range of the vehicles tends to dramatically decrease during winter weather.
These and other issues have dominated news as of late, and have without a doubt contributed to Ford’s decision to cut production on the F-150 Lightning.
When the vehicle was first announced in 2021, Ford touted it as the “truck of the future.”
“For both Ford and the American auto industry, F-150 Lightning represents a defining moment as we progress toward a zero-emissions, digitally connected future,” company executive chair Bill Ford said in May 2021.
Less than three years later, the trucks have failed to win over consumers.
Public sentiment regarding electric vehicles is apparently so low at the moment that many Americans do not want to rent them.
Hertz announced earlier this month it would begin to eliminate many of the 20,000 electric vehicles from its rental fleet.
