The large automaker also recently cut their investment in a new EV plant, amid slower than-expected EV sales.
The Canadian government went all in – using our taxpayer dollars – on EV batteries.
In a tacit admission that Canada has become a poor environment for doing business, the government gave out truly obscene subsidies that equaled nearly two years worth of our entire national defence budget.
And each day, that looks more and more like a huge mistake.
As reported by CNBC, Ford has announced that their planned 2024 production of the electric F-150 Lightning will be cut in half:
“The new production plans call for average volume of around 1,600 F-150 Lightnings a week at Ford’s Rouge Electric Vehicle Center in Dearborn, Michigan, starting in January, according to a source familiar with the decision. The automaker most recently planned to produce roughly 3,200 of the vehicles on average per week.”
The move is also a clear response to lower than expected EV demand:
““We’ll continue to match production with customer demand,” a Ford spokeswoman said Monday.
Ford executives have recently said the automaker will match production to demand, as the company cancels or postpones $12 billion in upcoming EV investments.”
Unfortunately, while Ford is able to change course, Canadians are already on the hook for billions of subsidies, as our eco-extremist and economically illiterate government ignores market demand.
Spencer Fernando
Photo – YouTube
