Ford Records $19.5B EV Write-Off and Teases $30,000 Electric Pickup
Ford wrote off $19.5 billion related to the collapse of its EV business and its CEO Jim Farley posted four photos teasing prototypes of a $30,000 EV pickup at its rejigged Louisville assembly plant. Eighteen analysts covering Ford have an average “Hold” rating, with two sells, twelve holds, three buys and one strong buy, per MarketBeat.
1. Record EV Write-Off
Ford announced a $19.5 billion charge tied to an overhaul of its electric vehicle strategy, marking one of the largest write-offs in automotive history. The company attributed the write-off to restructuring costs and underperforming EV initiatives as it refocuses on scalable models and profitability.
2. Analyst Ratings Overview
MarketBeat reports that eighteen analysts covering Ford have given an average rating of “Hold.” Within that group, two analysts rate the stock as a sell, twelve as a hold, three as a buy and one as a strong buy, reflecting tempered expectations amid strategic changes.
3. CEO’s EV Pickup Teaser
CEO Jim Farley shared four images from Ford’s revamped Louisville, Kentucky assembly plant showcasing early prototypes of a planned $30,000 electric pickup. The teaser highlights Ford’s push into more affordable EV segments, with the pickup expected to enter production in the next two years.