Following the discontinuation of its F-150 Lightning electric pickup, Ford has joined Stellantis’ Ram and newcomer Scout Motors in developing extended-range electric vehicles (EREVs) slated for U.S. deliveries through 2027. Ford’s series-hybrid architecture features a larger battery pack capable of approximately 150 miles of pure electric driving before a gasoline-powered generator engages to recharge the battery. Company engineers highlight that this configuration preserves the EV driving experience while addressing customer concerns over long-distance range and public charging availability. Ford executives believe EREVs will capture buyers who seek electric-vehicle benefits without full dependence on charging infrastructure, a segment McKinsey & Company estimates could include up to 18% of U.S. car buyers by 2025.

Ford reported U.S. retail deliveries of 135,362 vehicles in January, representing a 5.3% decline versus the year-ago period. The drop was driven in part by slower uptake of battery-electric models, including the F-150 Lightning, which the company has since phased out. Light-truck volume fell 6.1%, while passenger car deliveries dipped 2.8%. Ford attributed the declines to dealer inventory adjustments and shifting consumer preferences toward hybrid and extended-range powertrains. Management noted that incentive spending in the month rose by nearly 10% compared with January 2025, reflecting efforts to clear existing stock ahead of new model launches.

In its fourth-quarter earnings preview, Ford reiterated its cyclical nature and reaffirmed a Hold rating based on current valuation. The automaker projected adjusted free cash flow of $2.0–$3.0 billion for full-year 2025, down from prior guidance of $3.5–$4.5 billion, citing ongoing supply-chain constraints and macroeconomic headwinds. Revenue for the quarter is expected to remain flat year-over-year, while automotive operating margin is forecast in the 6.5–7.0% range, slightly below the 7.2% delivered in Q4 2024. Management plans to maintain disciplined capital allocation, prioritizing investment in electrification programs and manufacturing capacity upgrades.

Ford is in advanced discussions with China’s Geely Automobile to allow Geely to produce vehicles at Ford’s Valencia, Spain assembly plant, sources report. The proposed collaboration would also explore shared development of automated-driving technologies and electrified powertrains. Ford dispatched a senior delegation to China in January to negotiate terms following meetings in Michigan last fall. Executives believe the partnership could help Geely navigate European import tariffs while boosting utilization at the Valencia facility, which currently operates at roughly 85% capacity. Both companies anticipate finalizing an agreement by mid-2026, contingent on regulatory approvals across the European Union.