LISTEN: Ford Backs Out of Massive Battery Deals

Earlier this week, Ford scrapped the fully-electric F-150 Lightning and pivoted away from aggressive EV plans after losing $13 billion on the category since 2023.As consumer demand wanes and the company plans to take another $19.5 billion hit in Q4, Ford is shifting gears toward extended-range gas-powered vehicles and hybrids.The ripple effects throughout the supply chain will be far-reaching, including its $6.5 billion deal with LG Energy Solutions to make some 500,000 batteries per year. According to recent regulatory filings, that deal has been scrapped.