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

Ford says the next generation of the F-150 Lightning pickup truck will transition to a range-extended EV powertrain.

The sum marks the U.S. auto industry’s biggest reckoning to date that it can’t realize its EV ambitions anytime soon.

The end of the best-selling electric pickup truck is here: Ford is pulling the plug on the F-150 Lightning by the end of the year. It’s not dead dead, but the next version of the Lightning will be an extended range electric vehicle, known as an EREV. Ford is positioning it as the “next-generation.”

The writedown was seen as the most visible sign to date of the auto industry's pullback from a technology carmakers wholeheartedly embraced early this decade.

Several months ago, Ford CEO Jim Farley said ending the nearly two-decade-long EV tax credit would halve America’s electric-vehicle market. Now his company is facing its own reality check.

Ford has come to learn that not everyone wants an EV, shocking, we know. With demand declining and sales falling short of early expectations, the Blue Oval appears to be searching for "creative" ways to rein in costs.

Ford CEO Jim Farley walked through Ford’s Michigan design studio Monday afternoon, reflecting on how he was about to wipe out thousands of work hours on electric vehicles that he and his team had hoped would revolutionize the American auto industry.