Ford Motor F 0.32%increase; green up pointing triangle is slashing production of its F-150 Lightning electric pickup truck while adding workers to its gas-engine vehicle factories, citing weaker-than-expected demand for battery powered models.
The Dearborn, Mich., automaker said Friday it is moving 1,400 of the 2,100 hourly employees at the Lightning plant to gas-engine factories and other operations, reducing to one work shift, from two. Some workers are expected to take retirement packages negotiated as part of a recent deal with the United Auto Workers union.
A spokeswoman for the company declined to quantify the planned cut to Lightning production. A letter Ford sent to suppliers late last year, reviewed by The Wall Street Journal, said the automaker was expecting to reduce Lightning output in half this year because of “changing market demand.”
The electric truck has been a central part of Ford’s EV strategy in the past few years, and the plant itself has often been in the spotlight, even receiving a visit from President President Biden before the vehicle was revealed…