Why Ford Regrets The F-150 Lightning Electric Truck

After pouring billions into its first wave of electric vehicles—and losing billions more—Ford has begun a comprehensive rethink of its EV strategy.

A large part of that reset includes the end of the current F-150 Lightning as a pure battery-electric pickup. Also joining the Lightning on the scrap heap are a pair of three-row electric crossovers, a next-generation electric van, and a direct successor to today’s Lightning. Ultimately, the electric F-150 will return as an extended-range electric vehicle (EREV) rather than a standalone battery EV, but that's not what we're here to talk about.

In a recent interview with Car and Driver, Ford CEO Jim Farley acknowledged that, in hindsight, the company would have, could have, and probably should have approached the Lightning differently.

“I totally would’ve done it differently,” Farley said. “We didn’t know what we didn’t know.”

When the Lightning launched, early demand was strong. Reservations were stacking up at an unbelievable clip, dealer lots were skinny across the country, and transaction prices climbed. But Farley pointed to the unique market conditions during and immediately after the COVID-19 pandemic as distorting the automaker's planning.

"COVID totally was a false signal. Post-COVID, and during the chip crisis that was a result of it, there was such high demand for all vehicles. If you could build a vehicle, you were going to sell it basically at 30 or 40 percent higher prices than before COVID."

During the COVID-induced chip shortage, virtually any vehicle that made it to a showroom would command premium pricing. According to Farley, that created false signals about long-term demand and pricing tolerance for electric trucks. Ford fell for those false signals like senile old ladies fall for phishing scams over the phone.

Ford entered the EV space with high-profile nameplates: the Mustang Mach-E, E-Transit commercial van, and F-150 Lightning. Customers seemingly responded positively to the concept and driving experience of electric vehicles, but Farley conceded that the cost structure behind those vehicles proved unsustainable.

"And I guess it didn't take us long to learn that our internal-combustion-engine prejudice was so high that we hadn't designed the [electric] cars right. We had a Mustang [Mach-E], we had an E-Transit, we had a Lightning, and people loved these products. The problem was they were never going to pay the cost we put into the vehicle."

Going forward, Ford will look to focus its EV development around a new Universal EV Platform designed to lower costs and improve efficiency. Larger vehicles—particularly those used for towing and hauling—are expected to transition to extended-range electric configurations rather than relying solely on battery packs.