The move comes as a response to the Trump administration’s waning support for electrification and a weakening consumer market.

Ford will take a $19.5bn (£14.5bn) hit after cutting back electric vehicle (EV) production because of a slump in demand from drivers.

Ford’s decision to wind down the production of the F-150 Lightning runs parallel to a more significant shift for the brand. Instead of chasing headlines with bold EV promises, Ford has laid down a concrete outlook – one that isn't just focused on fully electric models.

Desperate to catch up with Chinese automakers, Ford is redesigning its fleet with a Silicon Valley-style team. Is it too late?

Korea's SK On exits Ford joint venture as EV demand wanes, shifting focus to energy storage while leaving Ford holding key battery plants

Ford opened orders for the Bronco EV last month with pre-sale prices starting at RMB 229,800 ($32,300). Although it is available with a fully electric (EV) powertrain, it’s also offered as an extended-range electric vehicle (EREV).

SK On said it's made an agreement with Ford to exit their electric vehicle battery joint venture in Kentucky and Tennessee.

South Korean battery manufacturer SK On will take full ownership of the battery plant at BlueOval City in Stanton after the company and Ford Motor Company announced plans to end their joint U.S. battery factory venture Thursday.