CNBC by Michael Wayland 2/14/2023
Ford halts production and shipments of its electric F-150 Lightning due to potential battery issue
Key Points• Ford Motor has paused production and shipments of its electric F-150 Lightning pickup due to a potential battery issue.
• The EV truck is being closely watched by investors, as it’s the first mainstream electric pickup on the market and a major launch for Ford.
• The production halt adds to ongoing “execution issues” detailed to investors earlier this month by Ford CEO Jim Farley.
Ford Motor
has paused production and shipments of its electric F-150 Lightning pickup due to a potential battery issue, the company said Tuesday.
Ford spokeswoman Emma Bergg declined to disclose details of the possible battery issue, which is being investigated after a vehicle displayed a potential problem as part of the automaker’s pre-delivery quality inspections.
The stop-shipment order and halt in production was issued at the beginning of last week, according to Bergg. It adds to ongoing “execution issues” detailed to investors earlier this month by Ford CEO Jim Farley that crippled the automaker’s fourth-quarter earnings.
Shares of Ford were down about 1% in midafternoon trading Tuesday. The stock was trading for under $13 a share.
More:
https://www.cnbc.com/2023/02/14/ford-halts-f-150-lightning-production.html