Ford Motor Company

Ford is cutting production of the F-150 Lightning electric pickup after weaker-than-expected electric vehicle sales growth.

While EV sales are growing in the U.S., the pace is falling well short of the industry's ambitious timetable and many consumers are turning to hybrid vehicles instead.

Ford is preparing to introduce its Bronco Sport, Edge and F-150 models to the Turkish market for the first time.

Those models are expected to be made available to Turkish consumers starting from the end of 2023 and at the start of 2024.

Due to the homologation issues, initially, 70 units per model will be offered in the local market.

Ford has said the need to retore manufacturing operations outweighed the additional costs to sweeten a labor contract to end a strike that has cost it some $1.3 billion.

Ford is halting work on a major battery plant in the northern U.S. state of Michigan, the automaker has said, just seven months after launching the project with a Chinese partner.

The stoppage, which a Ford a representative confirmed to AFP, comes as the company faces a major strike along with both of the other "Big Three" U.S. automakers, Stellantis and General Motors.

Ford lifted its full-year forecast on July 27 after quarterly earnings nearly tripled on strong vehicle pricing in conventional autos that offset losses in electric vehicles (EV).

The sticker prices for Ford's F-150 Lightning electric pickup trucks are being lowered by thousands of dollars across the board, the company has said, due to increased plant capacity, falling costs for battery raw materials and internal efforts to scale production by the Detroit automaker.

Talks are ongoing with carmakers from Europe and Asia, including China, to lure more investments into Türkiye's automotive sector, Industry and Technology Minister Fatih Kacır has said.

"We are hoping that at least one of them will announce an investment decision by the end of the year," he said.

A sporty Ford Escort that was once Princess Diana's runabout sold at auction for 737,000 pounds ($866,000) on Aug. 27, a few days before the 25th anniversary of her death.

The modest car, with just 24,961 miles (40,000 km) on the clock, went under the hammer at Silverstone Auctions in Warwickshire in central England.

A Georgia jury has returned a $1.7 billion verdict against Ford Motor Co. involving a pickup truck crash that claimed the lives of a Georgia couple, their lawyers confirmed.

The CEO of Ford Motor Co. says the automaker has no plans to spin off its electric vehicle or internal combustion businesses, but is reinventing itself by removing costs and ramping up for large-scale EV and software sales.