American automobile giant Ford Motor Company has reportedly decided to slash production of its F-150 Lightning electric pickup truck by 50 per cent next year. Referencing an internal memo from the automaker to suppliers, some media outlets have reported that the automaker intends to reduce the production of the Ford F-150 Lightening by half. Currently, the automaker is manufacturing nearly 3,200 pickup trucks per week at its Dearborn, Michigan-based assembly plant. If the reports are authentic, the production of the vehicle will come down to roughly 1,600 per week in 2024.

The decision to cut the production of the all-electric F-150 Lightning pickup truck reflects a significant shift in the automotive industry’s EV strategy as it aligns with broader trends among major automakers like General Motors (GM) and Volkswagen (VW), all of which have recently revised their electrification plans because of apparent shifts in market demand. While the electric car market seems to be healthy and robust, these automakers are facing challenges in meeting their initial EV sales projections.

To be more specific, in spite of the overall strength of the EV market, the pace of sales growth has failed to match earlier predictions, prompting the automakers to readjust their production targets.

The aforementioned reported move of Ford is particularly noteworthy here, especially when we consider its efforts to increase F-150 Lightning pickup’s production since its launch. In 2023, the automaker had expanded its production capacity to 150,000 units per annum. At the time, the company had emphasized that it remained commitment to meeting the soaring demand for battery-powered vehicles. However, the decision to slash production points to the possibility that there is a mismatch between the anticipated and actual consumer demand for the F-150 Lightning pickup truck.

The 2023 Ford F-150 Lightning, which starts at $59,974, embodies the renowned gas-powered F-150's essence with a thrilling electric powertrain. Promising swift as well as robust performance, impressive load capacity, and high-tech safety features, the electric pickup is available in Pro, XLT, Lariat, and the top-tier Platinum trims. The Pro costs $64,474, while the Lariat and Platinum set the buyer back by $76,974 and $98,074, respectively. The range spans from comfort and tech-rich models to premium editions featuring an extended-range battery, luxurious amenities, an immersive sound system, and innovative ‘Phone as a Key’ functionality. In short, the F-150 Lightning blends the iconic F-150's legacy with electric innovation, catering to diverse preferences and needs across the lineup.