DETROIT (AP) -- Ford will drastically cut the number of hourly workers at its factory that builds the Ford F-150 Lightning as sales of electric vehicles slow, according to a media report.
Ford began the year by 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 sold just over 24,000 Lightnings last year, up 55% from 2022. But dealers are reporting slower sales and rising inventories on the electric truck, which starts at just under $50,000.
On Wednesday, the Detroit Free Press and Louisville Courier reported that Ford will begin trimming the hourly workforce next week at the Rouge Electric Vehicle Center in Dearborn, Michigan, according to Ford spokeswoman Jessica Enoch.
Of the 2,100 workers who make up three work crews at the Dearborn facility, a third will remain, Enoch told the Detroit Free Press. Ford will transfer 700 workers to the Michigan Assembly Plant in Wayne to build the Bronco and Ranger. The remaining 700 workers will either take a retirement package offered during last year's contract talks with the United Auto Workers, or will take a reassignment in southeast Michigan. Ford is adding a third crew at Michigan Assembly, the paper reported.
Shares of Ford Motor Co. were essentially flat before the opening bell.
