"To put this in perspective ... it is probably the most important launch of my career. ... This has been a personal journey of mine since I joined the company 43 years ago."
"Rationalizes U.S. EV-related assets and product roadmap: Ford expects to record about $19.5 billion in special items with the majority in the fourth quarter. The company expects about $5.5 billion in cash effects with the majority paid in 2026 and the remainder in 2027."
"Ford Takes $19.5 Billion Hit in Detroit's Biggest EV Bust."
William Clay Ford Jr. is executive chair of Ford Motor Co. and a member of the Ford family that controls Class B voting shares. Bill Ford has effectively run the company since 1999, overseeing multiple CEOs and previously serving as CEO. He described the F-150 Lightning launch as the most important of his career and a personal journey after 43 years with the company. Ford announced a rationalization of U.S. EV assets and its product roadmap, forecasting about $19.5 billion in special items and roughly $5.5 billion in cash effects, with most cash paid in 2026 and the remainder in 2027. The current Lightning version was cancelled.
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