After Ford lost nearly $5 billion, CEO Jim Farley says: We got the message that ...
Times of India
by TOI TECH DESKFebruary 12, 2026
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Ford’s electric vehicle (EV) division reported a significant $4.8 billion loss in 2025 as sales of its Mustang Mach-E, F-150 Lightning, and E-Transit declined by 14% year-over-year. CEO Jim Farley acknowledged the challenges during an earnings call, stating that customers’ preferences have shifted, prompting Ford to rethink its EV strategy. Despite being a pioneer in introducing mass-market EVs with models like the Mustang Mach-E (launched in 2020) and the F-150 Lightning (launched in 2022), Ford’s initial momentum has faded. Sales dropped sharply in 2025, with only 27,307 F-150 Lightnings sold—a 18.5% decrease from 2024—and flatlined for the Mach-E at 51,620 units. The expiration of the $7,500 federal tax credit further hurt demand, causing Lightning sales to plummet from 5,197 in December 2024 to just 1,724 by the following year.
In response to slowing EV sales and rising hybrid demand, Ford is pivoting its strategy. Hybrid versions of the F-150 saw a 15% increase in sales last year, totaling 84,934 units, indicating a shift toward more flexible powertrain options. The company has also decided to discontinue production of the all-electric Lightning and relaunch it as an extended-range electric vehicle (EREV) with a gas generator. Farley emphasized that this new model aims to address concerns about range and towing capacity, which have been limitations for purely electric trucks.
Additionally, Ford is developing a new “universal” EV platform designed for lower-cost, high-volume vehicles. The first model under this platform—a midsize pickup truck priced around $30,000—will debut in
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Originally published on Times of India on 2/12/2026