Ford (F) Chief Executive Jim Farley said in an interview with The Wall Street Journal’s Sharon Terlep that the automaker expects to take about $19.5B in charges, mainly tied to its electric-vehicle business. “Instead of plowing billions into the future knowing these large EVs will never make money, we are pivoting. We now know enough about the U.S. market where we have a lot more certainty in this second inning” of reduced-emissions powertrains, Farley is quoted as having said. The company will stop making an EV version of its F-150 pickup truck, called the Lightning, and will instead make an extended-range version of the truck, the WSJ report noted.
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