Ford to scale back electric vehicle plans, taking $19.5bn hit
Source: BBC
Ford is backing away from plans to manufacture large electric vehicles, the US carmaker said on Monday, citing lacklustre demand and recent regulatory changes under US President Donald Trump.The company will instead invest in producing profitable hybrid and gas-powered vehicles and smaller, more affordable EV models.Ford said it expects its profits to take a $19.5bn (£14.6bn) hit as a result of the strategic…
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