Published:
Ford Motor on Monday said it would take a $19.5 billion charge as it refocuses on hybrids, slashes its electric-vehicle investments and discontinues the electric F-150 pickup truck.
In a
statement, the Detroit automaker said its actions are a result of slower-than-expected EV adoption rates, as well as policy changes that have made EVs less appealing to consumers. The federal government recently rolled back fuel-economy rules that encouraged selling EVs and ended key tax credits.
