Ford suspends production of its F-150 Lightning truck due to ‘potential battery issue’

On Tuesday, Ford Motor said it was suspending production of its popular F-150 Lightning as the electric pickup could experience battery problems.

“As part of our pre-delivery quality checks, a potential battery issue was identified in the vehicle, and we are holding the vehicles while we investigate,” a Ford spokesman told CBS MoneyWatch Tuesday. “We are not aware of any incidents regarding this issue in this area.”

The Michigan-based automaker began selling the F-150 Lightning last year. Company officials have not given a time frame for when production could be resumed. The production pause threatens Ford’s plan to deliver 600,000 Lightning trucks in 2023.

The spokesperson also didn’t say what the pause meant for trucks already in dealer parking lots or owners’ driveways.

Since their release last May, Ford sold 15,617 electric trucks, according to the company’s latest available figures. Company sold 2436 of them in October, the most sold in one month.

Growing demand for electric vehicles

Ford is betting big on the F-150 Lightning. investment millions of dollars for a new facility for a vehicle that has already won the 2023 MotorTrend Truck Award.

When company officials first announced the truck in 2021, demand soared quickly as the pre-order list topped 100,000 within three weeks. Workers assemble a car at a new plant in Dearborn, Michigan.

Ford’s pause is due to the fact that interest and demand for electric vehicles continue to grow in the US. survey from the AAA Motorcycle Club found that about a quarter of Americans say they want an electric car as their next car purchase. Research from Recurrent, an automotive industry analytics company, found that interest in buying an electric car has grown by 70% since last January.

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Ford raised the price of the F-150 Lightning in October to offset rising production costs. Other automakers have also increased the cost of their electric vehicle lines, including Rivian, GM and Tesla, amid soaring metal prices and higher costs for components such as lithiumwhich is used to make batteries.

Earlier this month, Ford reported a $1.3 billion profit for the fourth quarter of 2022, down about 89% from the same period last year. CEO Jim Farley said in an earnings call this month that he was disappointed with the 2022 results “because this year could have been so much better for us at Ford.”

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

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