Ford pulls the emergency brake on electric cars

Ford is implementing one of the most significant strategy shifts in the US auto industry in recent years. The company is taking a write-down of $19.5 billion in its electric vehicle division and simultaneously departing from key assumptions regarding the pace and structure of electrification. Weak demand for pure electric vehicles, high costs, and a changing regulatory environment are forcing management to change course, reflecting less vision and more market reality. Write-down with a clear message to the market The majority of the special charges...