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Tag: Ford F-150

  • Ford says it’s investing $5 billion in EV production, with a new model to start at $30,000

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    Ford is investing $5 billion to change the way it makes electric vehicles, a move the automaker says will allow it to manufacture models starting at $30,000 — far less than the current average price for an EV.

    The Dearborn, Michigan-based company on Monday said it will invest $2 billion to modernize its Louisville Assembly Plant and another $3 billion to build a new battery plant in Michigan, part of its push to produce more affordable EVs.

    The company unveiled its new “universal EV platform” at a Monday event, with Ford CEO Jim Farley calling it “the most radical change on how we design and how we build vehicles at Ford since the Model T,” which Ford introduced in 1908.

    According to Ford, the new assembly line will be structured more like an “assembly tree,” with three different lines that converge into one, rather than a single assembly belt. 

    The new assembly line will be formed more like an “assembly tree,” with three different lines that converge into one, rather than a single assembly belt, Ford said Monday.

    Ford Motor Company


    “This way of building a vehicle, we’re confident, is the first time anyone’s done this anywhere in the world,” said Doug Field, Ford’s EV chief of digital and design, at Monday’s event.

    The company said the design will lead to a quicker, smoother assembly process and improve ergonomics for employees through a less obstructive layout.

    “Ford’s announcement is very ambitious, because it includes both a new production process and a new vehicle,” said Patrick Anderson, founder of Michigan-based consulting firm Anderson Economic Group, in an email to CBS MoneyWatch. “If they can actually pull off a production line that has 40% fewer workstations and 20% fewer parts, it will be worthy of the ‘Model T moment’ claim.

    Ford’s first EV from the new system

    The first product of this new production system will be a four-door midsize truck, which will debut in 2027. Farley said on Monday that the new vehicle will accommodate five people and feature a “frunk” — a front storage compartment — as well as a pickup truck bed. 

    The vehicle will start at $30,000. By comparison, the average price for a new electric vehicle in July was about $56,000, according to Kelley Blue Book.

    Field touted the new vehicle’s charging capabilities, referring to the truck as a “mobile power plant.”

    “Outlets in the back can give you high power and let you plug in anything from tools to a refrigerator, and it can provide backup power for your home,” he said.

    The midsize electric truck could be produced up to 40% faster than other vehicles at the Louisville Assembly Plant due to the new process, Ford said. 

    In another effort to lower costs, the auto company is also reducing the number of components that go into each car. Vehicles produced on the “universal EV platform” will have 20% fewer parts than a traditional vehicle, Ford said.

    The company will also use smaller cobalt and nickel-free batteries that will allow it to make “cost gains,” according to a video shared by Ford.

    Anderson said that Ford has its work cut out for them given that the new truck will need to be competitively priced and economical. According to the auto industry expert, the cost of charging EV trucks currently on the market is often much higher than the price at the pump for gas-powered versions. A report from the Anderson Economic Group shows pickup trucks drivers in New York, California and Michigan face “significantly higher costs” if they rely on an EV.

    A successfully lower-cost truck model, however, could spur a new chapter for the company in its manufacturing of EVs.

    “If Ford shows the industry it can build and sell a reliable compact EV truck for $30,000, it will sell a lot of them, and open the door to making sedans using the new production process,” Anderson said.

    Mary Cunningham

    Mary Cunningham is a reporter for CBS MoneyWatch. Before joining the business and finance vertical, she worked at “60 Minutes,” CBSNews.com and CBS News 24/7 as part of the CBS News Associate Program.

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  • Ford to pause production of F-150 Lightning electric pickup trucks

    Ford to pause production of F-150 Lightning electric pickup trucks

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    Ford to idle F-150 Lightning plant for 7 weeks


    Ford to idle F-150 Lightning plant for 7 weeks

    01:57

    Ford Motor on Thursday said it is temporarily halting production of the Detroit automaker’s F-150 Lightning pickup truck until 2025 amid waning consumer demand for electric vehicles. 

    Ford will pause manufacturing of the EV at its Rouge Electric Vehicle Plant on November 15 and resume on January 6. 

    “We continue to adjust production for an optimal mix of sales growth and profitability,” the company said in a statement to CBS MoneyWatch. 

    Ford also said it will furlough roughly 730 hourly employees, although it noted that not all workers will be sidelined for the duration of the production freeze. 

    Ford launched the F-150 Lighting, which MotorTrend named its truck of the year in 2023, two years ago, underlining the car maker’s push into EVs. With sales sluggish, Ford last year slashed the vehicle’s price by thousands of dollars.


    What consumers should know about buying used electric vehicles

    03:20

    For the third quarter, Ford reported a $1.2 billion loss on Model e, its separate EV unit. The company projects losses of $5 billion for Model e for all of 2024, attributing the financial hit in part to “industrywide pricing pressure.”

    Earlier this year, Ford scrapped plans for an all-electric, three-row SUV to focus on hybrid models. At the time, the company said its plan was to  “speed customer adoption” of more affordable vehicles with longer driving ranges. That includes developing a new family of three-row, hybrid SUVs.

    Electric vehicle prices are tumbling as cars pile up on lots amid cooling consumer demand. The average price of a new EV in May was $56,648, according to Kelley Blue Book, down roughly 15% from two years earlier, when the average price was $65,000. 

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  • Best Worst Years of Ford F-150: Things You Should Know – Southwest Journal

    Best Worst Years of Ford F-150: Things You Should Know – Southwest Journal

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    The Ford F-150 has been around for decades, with the F Series trucks launching back in 1948.

    Today, the lineup includes light, medium, and heavy-duty pickups, but the F-150 remains a consumer favorite.

    Ford sells about 103 of these trucks per hour, or roughly two every minute according to autoweek.

    If you’re thinking of buying an F-150, you don’t need to spend a fortune on a brand-new model.

    Although Ford claims the 2021 model has 92% new parts, the difference between a new and a used F-150 isn’t huge.

    That’s why opting for a used F-150 can be a smarter financial choice.

    Best Years of the Ford F-150

    1997-2003

    The 1997 model year brought significant changes to the Ford F-Series, introducing the tenth generation of this iconic American pickup.

    This generation featured a new chassis design and updated styling. Ford also separated the lineup into two families, creating the modern “F-Series.”

    Among the reliable model years from this era, the 2003 F-150 stands out for its impressive power and performance.

    It remains highly rated on KBB and earned the “Seal of Pretty Good” award from CarComplaints.com.

    2008

    While the previous generation was highly regarded, the same can’t be said for the eleventh generation of the F-150. The 2004 F-150, a redesign year, is widely considered the worst model.

    It suffered from inconsistent performance and serious engine problems like knocking and failure. CarComplaints.com gave it the “Avoid Like the Plague” award, with over 3,000 complaints and 16 recalls.

    The 2005 model improved somewhat but still had its share of significant mechanical issues.

    Many owners reported loud ticking noises from the engine and frequent transmission failures. Although not as problematic as the 2004 version, the 2005 model is still one to avoid.

    The 2008 F-150, however, stands out as a bright spot in this generation. It received a “Pretty Good” rating from CarComplaints.com, with only around 500 complaints and one recall.

    2012

    We all make mistakes, and learning from them is crucial. After the setbacks with the 2011 F-150, Ford took steps to turn things around, producing a stylish, powerful, and reliable 2012 model.

    Ford incorporated versatility into the 2012 F-150, offering four engine options (two V6s and two V8s) and nine unique trims, giving buyers a broad range of customization options. Their efforts paid off, helping them outshine competitors like the Toyota Tacoma.

    If you’re searching for one of the most reliable F-150s, the 2012 model is definitely worth considering.

    2009,2013 and 2014

    The twelfth generation of the F-150 saw a marked improvement with the redesigned 2009 model. That year, Ford replaced the V6 engine with two V8 options—a 4.6-liter and a 5.4-liter. The new Platinum trim was also introduced, offering a more luxurious interior.

    However, the 2013 and 2014 models are considered among the most reliable, thanks to a range of engines, like the 411-hp 6.2-liter V8 and the 365-hp 3.5-liter EcoBoost V6. The 2014 F-150, in particular, earned a “Pretty Good” rating from CarComplaints.com despite six recalls and over 1,000 complaints.

    2015,2017,2019,2020

    The 2015 F-150 was a redesign year, introducing an aluminum body that shaved off 700 pounds to improve fuel economy.

    Owners report getting around 18 mpg. However, its reliability was rated 3.0 out of 5.0 by Consumer Reports, and it had 16 recalls, which can be a dealbreaker for some buyers.

    From 2017 onwards, the F-150 models are generally seen as reliable choices.

    The 2019 model is also a standout, with strong reviews from critics and owners, making it worth spending a bit more for a newer, reliable truck.

    The 2020 model is another solid option, offering six different engines, each paired with a 10-speed automatic transmission.

    2021-Present

    The 14th-generation Ford F-150 stands as the most rugged and capable truck in Ford’s lineup. It’s currently the most powerful light-duty full-size pickup truck on the market, maintaining the high standards that customers expect from Ford’s flagship model.

    It’s not only built for the County Sheriff but also suits the family man who enjoys the countryside lifestyle. With impressive torque, towing capacity, horsepower, and payload, it’s among the best in its class.

    The 14th-gen F-150 offers modern connected vehicle features like over-the-air updates and comes equipped with the advanced 3.5-liter PowerBoost hybrid powertrain. This innovative engine includes Pro Power Onboard, an integrated generator that adds extra utility for everyday tasks.

    The Worst Years of the Ford F-150

    2005

    The 2005 Ford F-150 was another challenging year for the model and its owners.

    This model didn’t resolve the issues of previous years and even introduced new ones, like rear window leaks.

    According to Consumer Reports, the 2005 F-150 had 14 recalls, with most involving the lighting, fuel system, brakes, and airbags.

    Issues with any of these systems can pose serious safety risks, so it’s best to steer clear of the 2005 F-150 if you don’t want constant worry while driving

    2010

    The 2010 F-150 is a model that likely still causes Ford some anxiety. While it’s known for good fuel economy and impressive towing capacity (5,100 to 11,300 lbs), this model year was riddled with issues.

    Transmission problems, originating from the driveshaft and transmission wiring harness, typically began around 15,000 miles and could cost anywhere from $150 to $4,000 to fix. Additionally, many owners reported issues with the power windows, which often malfunctioned due to electrical system flaws.

    With these transmission and electrical problems, the 2010 F-150 remains a model year to avoid.

    2011

    The 2011 F-150 offered four unique engines, with the most powerful being the 6.2-liter V8 delivering 414 horsepower and 434 lb-ft of torque, paired with a six-speed automatic transmission. Despite initial excitement, the 2011 model faced significant issues after its release.

    According to the NHTSA, this model year had six recalls and 1,944 complaints, with 655 related specifically to the powertrain. The 2011 F-150 experienced engine stalls, misfires, and failures, and many models developed steering problems after accumulating several thousand miles. If you don’t want to spend more time at the mechanic than on the road, it’s best to steer clear of the 2011 F-150.

    2016

    The 2016 F-150 was introduced with Ford’s “built Ford tough” mantra but had a glaring weakness: engine stalls.

    Many owners reported this problem around the 29,000 to 30,000-mile mark. Additionally, the truck was plagued by door latch issues, causing doors to open unexpectedly while driving or after side impacts.

    Alongside problems with airbags, seats, suspension, and brakes, these issues led to 13 recalls. If you’ve been considering a 2016 F-150, it’s best to remove it from your list.

    2018

    CarComplaints flags the 2018 Ford F-150 as problematic due to the high cost of repairs and the fact that issues arise at low mileage.

    The most significant issue is “shifting hard,” which can cost up to $7,000 to fix and typically shows up around 15,000 miles. Suspension problems occur early too, sometimes at just 5,000 miles, costing around $700 to repair.

    Another common complaint is a soft brake pedal, which can also emerge at around 5,000 miles and cost about $800 to fix. When searching for a used Ford F-150, be aware of potential repair costs with this model year. It’s best to avoid potential lemons.

    That year Ford recalled 2 million F-150 pickup trucks in North America because a seat belt mechanism started fires years that were affected were 2015-2018.

    What owners of the Ford F-150 like to use their car for:

    The Ford F-150 is an adaptable vehicle with diverse uses for its owners. Here is a summary of the most frequent use categories and their respective usefulness ratings according to fixdapp.com

    Usage Category Usefulness (Out of 5 Stars)
    Lots of Driving (travel/long commute) ★★★★★
    Family Vehicle ★★★★
    Sport/Fast Driving ★★★
    Luxurious Driving ★★★
    Outdoor/Off-Road ★★★
    Office on Wheels ★★★
    Hauling/Towing ★★★

     

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    Srdjan Ilic

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  • Ford recalls nearly 113,000 F-150 pickups over rear axle problem

    Ford recalls nearly 113,000 F-150 pickups over rear axle problem

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    Ford Motor Company has recalled nearly 113,000 F-150 pickup trucks over concerns a rear axle hub could break off, causing the vehicle to lose power or roll away when in park.

    The recall applies to some 2021-2023 F-150 vehicles “equipped with the Trailer Tow Max Duty package and a 9.75-inch heavy duty axle with a 3/4 float axle design,” according to a notice Tuesday from the National Highway Traffic Safety Administration. The rear axle hub bolt “may fatigue and break,” the recall states, “which can result in damage to the axle hub splines.”

    Vehicles with damaged axle hub splines can roll away when in park or lose drive power. “Both of these conditions can increase the risk of a crash,” NHTSA said.

    According to the recall, Ford is still figuring out to deal with the issue. For now, NHTSA advises owners of the recalled pickups who have problems related to the rear axle bolt, such as a clicking or rattling noise, to take the vehicles to a dealer for a temporary repair.

    Owners can direct any questions to Ford customer service at (866) 436-7332. Ford’s number for the recall is “23S65.”

    Owners may also contact NHTSA’s safety hotline at (888) 327-4236 (toll free at 1-800-424-9153) or go to www.nhtsa.gov for further information.

    In October, Ford also recalled more than 238,000 Explorers in the U.S. because of faulty rear axle bolts.

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  • Some pickup trucks fail to protect passengers in the rear seat, study finds

    Some pickup trucks fail to protect passengers in the rear seat, study finds

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    Four popular pickup trucks do a poor job of protecting back-seat passengers in some crashes, according to the Insurance Institute for Highway Safety.

    For the 2023 model year, the Chevrolet Silverado 1500 crew cab, Ford F-150 crew cab, Ram 1500 crew cab and Toyota Tundra crew cab all fell short in expanded tests conducted by the organization that assesses the impact of accidents on people seated in the rear when vehicles are struck from the side or front. 

    IIHS expanded the testing after research found that the risk of fatal injuries in newer vehicles is now greater for people in the second row than for those in the front. The front seat has gotten safer because of improvements in air bag and seat belts, which typically aren’t available in back. 

    But restraint systems in the rear are inadequate, according to the institute, a nonprofit organization supported by insurance companies that focuses on curbing injuries and deaths from vehicle crashes. 

    The F-150, Ram 1500 and Silverado are rated as poor in protecting rear passengers. IIHS rates the Chevrolet Silverado 1500 crew cab as “acceptable” in keeping back-seat passengers safe. All four trucks provide good protection in the front, the institute found. 

    For a vehicle to earn a good rating, crash tests must show there is no excessive risk of injury to the head, neck, chest or thigh of a person seated in the second row, IIHS said. Dummies used in the tests should also remain correctly positioned without sliding forward beneath the lap belt, which raises the risk of abdominal injuries, while the head should remain a safe distance from the front seatback.


    On Your Side: IIHS list of 2023’s safest vehicles

    02:40

    “Like most other vehicle classes, large pickups don’t perform as well in the new moderate overlap evaluation as they do in the updated side test,” IIHS President David Harkey said Tuesday in a statement announcing the organization’s latest crash-test findings.

    “We routinely consider third-party ratings and factor them into our product-development process, as appropriate,” said Eric Mayne, a spokesperson for Ram-maker Stellantis in a statement. “We engineer our vehicles for real-world performance. The protection of our customers is an integral part of the upfront design of a vehicle’s structure. Every Stellantis model meets or exceeds all applicable federal vehicle safety standards.”

    Spokespeople for General Motors and Toyota did not immediately respond to requests for comment. A spokesperson for Ford could not immediately be reached.

    After surging during the pandemic, traffic fatalities have declined in 2023, according to the National Highway Traffic Safety Administration. Roughly 19,515 people died in vehicle crashes in the first half of the year, down from 20,190 over the same period last year.

    Alain Sherter

    Alain Sherter covers business and economic affairs for CBSNews.com.

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  • Feds expand probe into 2021-2022 Ford SUVs after hundreds of complaints of engine failure

    Feds expand probe into 2021-2022 Ford SUVs after hundreds of complaints of engine failure

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    Federal highway safety officials are expanding its investigation into 2021-2022 Ford SUVs to include over 700,000 vehicles. The automaker received hundreds of complaints of vehicles’ engines failing unexpectedly “under normal driving conditions” on models equipped with EcoBoost engines, according to the National Highway Traffic Safety Administration.

    In a document posted Monday, the NHTSA said that a recall of the 2021 Ford Bronco, 2022 Bronco, 2021-2022 F-150, 2021-2022 Edge, and 2021-2022 Lincoln Nautilus has been expanded to include the Y 2021-2022 Explorer and 2021-2022 Lincoln Aviator — vehicles in the “Nano” engine family, which feature 2.7L and 3.0L EcoBoost engine variants. 

    Without warning, the 708,837 vehicles under investigation “may experience a loss of motive power without restart due to catastrophic engine failure,” the NHTSA document states. No deaths or injuries related to the potentially faulty engines have been reported. 

    The NHSA also said on its website that it upgraded the investigation to an engineering analysis, a step closer to a recall.

    Fractured intake valves

    NHTSA began its probe into Ford SUVs in July 2022, a few months after the regulator received complaint letters from three consumers petitioning for an investigation. In its preliminary evaluation, the NHTSA’s Office of Defects Investigation found that Ford received 328 complaints, 487 warranty claims and 809 engine exchanges in connection with the 2021-2022 Bronco and other vehicles that featured Ford’s EcoBoost engine.

    The ODI identified “multiple contributing factors” which it said “can lead to the fracturing of the intake valves in the subject engines,” according to NHTSA documents. Fractured intake valves “can result in catastrophic engine failure and a loss of motive power,” the regulator noted, citing acknowledgement from Ford that “following a valve fracture, a vehicle typically requires a full engine replacement.” 

    The defective valves were manufactured out of a specific alloy known as “Silchrome Lite,” which Ford told the ODI can “become excessively hard and brittle” in situations where the engine gets too hot. 

    Unrelated to recalls of Ford SUVs

    The current engine investigation is separate from NHTSA’s ongoing Ford probe into some SUVs unexpectedly rolling away — even while parked, according to the regulator. Ford recalled thousands of 2020-2022 Explorers in June because fractures in the rear axle mounting bolt could lead the drive shaft to disconnect. After repairing the issue, some Explorers engaged their electronic brakes while owners were driving. 

    The Michigan automaker last year also recalled 350,000 SUVs and advised owners to park their vehicles outside because the engines on some 2021 Ford Expeditions and Lincoln Navigators could catch fire.

    All three investigations are hitting Ford as the company tries to hammer out a new labor contract with its unionized factory workers. Thousands of Ford employees in Wayne, Michigan, walked off the job last month as part of a larger United Auto Workers strike. UAW expanded strikes against Detroit automakers Friday, ordering 7,000 more workers to walk off the job at a General Motors plant in Lansing, Michigan, and a Ford plant in Chicago, to put more pressure on the companies to improve their offers.

    The Ford factory in Chicago makes Ford Explorers and Explorer Police Interceptors, as well as the Lincoln Aviator SUV.

    Khristopher J. Brooks

    Khristopher J. Brooks is a reporter for CBS MoneyWatch covering business, consumer and financial stories that range from economic inequality and housing issues to bankruptcies and the business of sports.

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  • Kotaku’s Weekend Guide: 5 Games To Kick Back With

    Kotaku’s Weekend Guide: 5 Games To Kick Back With

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    Screenshot: Digital Eclipse

    Play it on: PS5, PS4, Xbox Series X/S, Xbox One, Switch, Windows (Steam Deck: YMMV)
    Current goal: Bring some game history to life (and survive the damn bird)

    “Wait,” I hear you saying. “You’re playing something called The Making of Karateka? That sounds like a documentary, not a game!” Well, my friend, it’s both!

    Karateka is a hugely influential and important game from 1984, designed by Jordan Mechner, who would go on to create the original Prince of Persia, among other well-regarded games. This new release from prestige emulation studio Digital Eclipse lets you play Mechner’s classic, of course—multiple versions of it, in fact, as it was released for numerous platforms in the ‘80s. But it aims to do more than that. Through interviews, archival materials, and other supplements, it aims to contextualize Karateka within the larger scope of game history, providing insight into what makes it significant, and why we should still appreciate it today.

    I often lament that game history—even from as recently as 40 years ago—is so often overlooked and erased, as many people playing and writing about games today simply lack a real awareness of or interest in the age of Atari and Apple IIc. It’s very important to me that it not be forgotten, and that the games of that era continue to be recognized for both their significance to the medium’s development and for the playability and enjoyment they can still offer today. I haven’t even fired up The Making of Karateka yet, but if Digital Eclipse’s recent release, Atari 50, is any indication, this one will also do a wonderful job of illuminating an important piece of game history.

    The studio is calling this the first in its Gold Master series. I very much hope that it’s successful enough to be merely the first of many. Game preservation guru Frank Cifaldi recently said on Twitter, “If the world is to take video games seriously as an art form, we must be able to support products like this.” I strongly agree. — Carolyn Petit

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    Claire Jackson

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  • Ford recalls 870,000 F-150 trucks because of potential parking brake malfunction

    Ford recalls 870,000 F-150 trucks because of potential parking brake malfunction

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    Ford Motor has recalled about 870,000 F-150 pickup trucks because of a faulty parking brake that could turn on by itself, causing the driver to lose control. 

    The recall includes 2021 to 2023 models of the F-150, according to recall documents posted Friday by the National Highway Traffic Safety Administration (NHTSA). Damages in the wiring of some F-150s could activate the truck’s parking brake while someone is driving, causing them to lose control of the vehicle and crash. 

    Drivers with the brake light issue may see a warning light on their vehicle’s panel, NHTSA documents show. 

    Ford said in documents that it has 918 warranty claims and three field reports of wire chafing in North America. Of these, 299 indicated unexpected parking brake activation, and 19 of these happened while the trucks were being driven. The company says it doesn’t know of any crashes or injuries caused by the problem.

    The Michigan automaker said it would fix the issue by installing a protective tie strap and tape wrap at dealerships for free.  

    Anyone with questions about the F-150 issue can contact Ford at 1-866-436-7332 and use recall number 23S35 or NHTSA at 1-888-327-4236.

    — The Associated Press contributed to this report. 

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  • Ford slashes price of its F-150 Lightning electric pickup truck

    Ford slashes price of its F-150 Lightning electric pickup truck

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    Ford Motor is cutting the price of its electric pickup truck, the F-150 Lightning, by between $6,000 and $10,000 depending on the model.

    The Michigan automaker said Monday that access to raw materials for the truck’s battery is improving and that it has upgraded its suburban Detroit factors where the truck is manufactured, enabling the company to drop prices. Those developments also mean customers will get their custom-ordered F-150 Lightning much faster, Ford said.


    A look at Ford’s first electric pickup

    03:36

    “Shortly after launching the F-150 Lightning, rapidly rising material costs, supply constraints and other factors drove up the cost of the EV truck for Ford and our customers,” Marin Gjaja, the chief customer officer for Ford’s electric vehicle line, said in a statement. “We’ve continued to work in the background to improve accessibility and affordability to help to lower prices for our customers and shorten the wait times for their new F-150 Lightning.”

    Ford offers seven varieties of the F-150 Lightning, including the Pro, Platinum Extended Range and the Lariat. The F-150 Lightning Pro now costs $49,995, marking a $9,979 price cut. The Platinum Extended now costs $91,995, a $6,079 drop.

    Khristopher J. Brooks

    Khristopher J. Brooks is a reporter for CBS MoneyWatch covering business, consumer and financial stories that range from economic inequality and housing issues to bankruptcies and the business of sports.

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  • Ford plans to resume production on its F-150 Lightning truck

    Ford plans to resume production on its F-150 Lightning truck

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    Ford Motor said it will resume manufacturing its F-150 Lightning this month after first reporting weeks ago that something was wrong with the vehicle’s battery. 

    The production restart begins March 13, Ford spokeswoman Emma Bergg said in a statement Thursday.

    The Michigan automaker spotted a battery issue during a pre-delivery quality inspection and began investigating the cause. Ford said it worked with Sk On, the South Korean company that makes the Lightning’s battery, and figured out the issue — although it did not disclose the specific problem.

    “In the weeks ahead, we will continue to apply our learnings and work with SK On’s team to ensure we continue delivering high-quality battery packs – down to the battery cells,” Bergg said.

    SK On is building a modified version of the Lightning’s battery, which is destined for Ford’s Rouge Electric Vehicle Center in Dearborn, Michigan. F-150 Lightnings that have already been made will wait at the production plant until updated batteries arrive, Bergg said. 

    The company has not reported issues with batteries in its other electric or hybrid vehicles. 

    Ford is betting big on the F-150 Lightning, investing millions of dollars on a new facility for a vehicle that’s already been named the 2023 MotorTrend Truck of the Year. The company said it hopes to bring 600,000 Lightning trucks to the market this year. 

    Since the electric truck’s release last May, Ford has sold 15,617 of the vehicles, according to the most recent company data. It hit a monthly sales record last October, selling 2,436 Lightnings that month.

    Snags in the global supply chain have kept Ford and other automakers from rolling out as many electric vehicles as they’d like in recent years. In 2021, Ford estimated it lost between $1 billion and $2.5 billion in sales because it couldn’t get enough semiconductor chips. Semiconductor shortages are still impacting the automotive sector and car prices that customers see at the dealership, but are less severe than a couple years ago, industry analysts said. 

    Ford raised the price of the F-150 Lightning in October as it sought to offset rising manufacturing costs. Other automakers also hiked the cost of their EV lines — including Rivian, GM and Tesla — amid surging metal prices and higher costs for components like lithium, which is used to make batteries. 

    Ford’s stock rose 1.8% in trading Thursday, ending at about $12.50 a share. 

    Khristopher J. Brooks

    Khristopher J. Brooks is a reporter for CBS MoneyWatch covering business, consumer and financial stories that range from economic inequality and housing issues to bankruptcies and the business of sports.

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  • Ford pauses production on its F-150 Lightning truck over

    Ford pauses production on its F-150 Lightning truck over

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    Ford Motor will pause production on its F-150 Lightning until at least February 24 because the electric pickup truck has a battery problem. 

    The Michigan automaker spotted a potential battery issue this week during a pre-delivery quality inspection and started investigating the cause. Ford said it’s not aware of battery issues impacting vehicles already out on the road. 

    “We believe we have identified the root cause of this issue,” Ford spokeswoman Emma Bergg told CBS MoneyWatch on Wednesday. “By the end of next week, we expect to conclude our investigation and apply what we learn to the truck’s battery production process.”

    Applying that process “could take a few weeks,” Bergg said. 

    “We will continue holding already-produced vehicles while we work through engineering and process updates,” she said. 

    Ford began selling its F-150 Lightning last year. The production pause threatens Ford’s plan to deliver 600,000 Lightning trucks in 2023. 

    Since their release last May, Ford has sold 15,617 of the electric trucks, according to the most recent company data available. The company sold 2,436 of them in October, the most ever sold in one month.

    Soaring demand for EVs

    Ford is betting big on the F-150 Lightning, investing millions of dollars on a new facility for a vehicle that’s already been named the 2023 MotorTrend Truck of the Year.

    When company officials first announced the truck in 2021, demand quickly soared as the pre-order list surpassed 100,000 within three weeks. Workers are building the vehicle in a new plant in Dearborn, Michigan.

    Ford’s pause comes as interest and demand for electric vehicles continue to rise in the U.S. A survey from motor club AAA found that about a quarter of Americans say they want to get an electric vehicle as their next car purchase. Research from Recurrent, a car industry analysis company, found that interest in buying an electric vehicle has soared 70% since last January.


    General Motors president discusses new fully electric Corvette and future of electric vehicles

    09:07

    Ford raised the price of the F-150 Lightning in October as it sought to offset rising manufacturing costs. Other automakers also hiked the cost of their EV lines — including Rivian, GM and Tesla — amid surging metal prices and higher costs for components like lithium, which is used to make batteries. 

    Ford earlier this month reported $1.3 billion in profit for the fourth quarter of 2022, down roughly 89% from the same period last year. CEO Jim Farley said in an earnings call this month that he’s frustrated with the 2022 performance “because the year could have been so much more for us at Ford.”

    Ford’s stock price fell nearly 1% on Wednesday to about $12.80 a share, its second day of declines.

    Khristopher J. Brooks

    Khristopher J. Brooks is a reporter for CBS MoneyWatch covering business, consumer and financial stories that range from economic inequality and housing issues to bankruptcies and the business of sports.

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  • Ford pauses production on its F-150 Lightning truck over

    Ford pauses production on its F-150 Lightning truck over

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    Ford Motor Tuesday said it’s pausing production on its popular F-150 Lightning because the electric pickup truck might have a battery problem. 

    “As part of our pre-delivery quality inspections, a vehicle displayed a potential battery issue and we are holding vehicles while we investigate,” a Ford spokesperson told CBS MoneyWatch on Tuesday. “We are not aware of any incidents of this issue in the field.”

    The Michigan automaker began selling the F-150 Lightning last year. Company officials did not give a timeline for when production may restart. The production pause threatens Ford’s plan to deliver 600,000 Lightnings in 2023. 

    The spokesperson also didn’t say what the pause means for trucks already on dealership lots or in owner driveways. 

    Since their release last May, Ford has sold 15,617 of the electric trucks, according to the most recent company data available. The company sold 2,436 of them in October, the most ever sold in one month.

    Soaring demand for EVs

    Ford is betting big on the F-150 Lightning, investing millions of dollars on a new facilty for a vehicle that’s already won 2023 MotorTrend Truck of the Year. 

    When company officials first announced the truck in 2021, demand quickly soared as the pre-order list surpassed 100,000 within three weeks. Workers are building the vehicle in a new plant built in Dearborn, Michigan.

    Ford’s pause comes as interest and demand for electric vehicles continues to soar in the U.S. A survey from motor club AAA found that about a quarter of Americans say they want to get an electric vehicle as their next car purchase. Research from Recurrent, a car industry analysis company, found that interest in buying an electric vehicle has soared 70% since last January.


    General Motors president discusses new fully electric Corvette and future of electric vehicles

    09:07

    Ford raised the price of the F-150 Lightning in October as it sought to offset rising manufacturing costs. Other automakers also hiked the cost of their EV lines — including Rivian, GM and Tesla — amid soaring metal prices and higher costs for components like lithium, which is used to make batteries. 

    Ford earlier this month reported $1.3 billion in profit for the fourth quarter of 2022, down roughly 89% from the same period last year. CEO Jim Farley said in an earnings call this month that he’s frustrated with the 2022 performance “because the year could have been so much more for us at Ford.”

    Ford’s stock price fell nearly 1% in trading Tuesday to about $13 a share. 

    Khristopher J. Brooks

    Khristopher J. Brooks is a reporter for CBS MoneyWatch covering business, consumer and financial stories that range from economic inequality and housing issues to bankruptcies and the business of sports.

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