Driving the news: Ford $F ( ▲ 1.35% ) is considering canceling production of the F-150 Lightning electric pickup truck, according to The Wall Street Journal.
What’s happening: Production of the Lightning has been idled since October after a fire at Novelis' aluminum plant in Oswego, New York knocked out a significant chunk of U.S. automotive aluminum supply.
When Ford faced a choice of which F-150 to prioritize during the shortage, it chose gas over electric by adding a shift at Dearborn Truck Plant and leaving the Rouge Electric Vehicle Center shuttered with no clear restart date.
For context: The Lightning launched with enormous fanfare as Ford's electric flagship, positioned to convert America's best-selling vehicle into an EV success story.
Instead, Ford's Model e division has lost $3.6 billion this year alone, and the Lightning consistently missed sales targets even before the aluminum shortage forced the shutdown.
After the federal EV tax credit expired in September, Lightning sales dropped 17% in October to just 1,500 units.
Zooming out: Ford's potential EV retreat is far from isolated. Stellantis already canceled its all-electric Ram. Tesla Cybertruck sales have collapsed and Rivian is laying off workers.
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