Ford adjusts pure electric vehicle strategy, books $1.95 billion charge.

Ford Motor Company will record special project expenses of approximately $19.5 billion, related to its withdrawal from the pure electric vehicle sector and halting production of the pure electric F-150 Lightning pickup truck. Instead, the company will shift its investment focus towards hybrid vehicles and plug-in electric vehicles, while targeting smaller, lower-cost electric vehicles. The company has also raised its 2025 adjusted pre-tax profit guidance to approximately $7 billion.