Ford is stalling F-150 Lightning production and slashing manager bonuses as it races to cut costs

Core Insights - Ford is pausing production of its F-150 Lightning electric pickup truck for seven weeks due to ongoing struggles to achieve profitability in its electric vehicle segment [1][3] - The company is implementing cost-cutting measures, including reducing manager bonuses to 65% of last year's levels [2][3] - Ford's electric vehicle division, Model e, reported a loss of $1.2 billion in the third quarter, prompting a revision of the full-year earnings outlook to "about $10 billion" [5] Production and Financial Adjustments - The F-150 Lightning factory in Metro Detroit will idle starting November 15, including planned holiday downtime, and is currently operating on a single shift [3] - Ford's financial performance has been negatively impacted by quality issues and rising costs, including an $800 million warranty charge in Q2 [3][4] - The company has reduced its spending on electric vehicles from 40% to 30% of capital expenditures [4] Strategic Changes - Ford has canceled plans for electric three-row SUVs and delayed the production of its next electric pickup truck as part of its strategic adjustments [5] - The company aims to lower costs, improve quality, and enhance capital efficiency to become a more resilient business [4]