Core Viewpoint - Ford Motor Company is shifting its investment strategy from large electric vehicles (EVs) to higher-margin products, including hybrids and American-built trucks, in response to profitability challenges in the EV segment [2][3]. Investment Strategy - The company plans to take a significant write-off of nearly $20 billion related to its previous EV plans, redirecting funds towards more profitable areas [2][3]. - Investments will focus on hybrids, affordable EVs, and energy storage solutions, particularly in the Midwest [3][5]. Product Performance - The F-150 hybrid has become increasingly popular, making up 30% of the vehicle mix, with sales of hybrids up 30% last month despite overall flat sales [4][5]. - Ford aims to provide a range of vehicles, including affordable EVs priced around $30,000, while maintaining options for traditional combustion engines [7]. Job Creation and Economic Impact - The announcement is expected to create thousands of new jobs across America, reinforcing Ford's position as the leading auto producer in the country [6][9]. - The company emphasizes the importance of providing affordable vehicles and choices for consumers, which aligns with new regulatory standards [6][7].

Just a few minutes ago, we learned that Ford is undergoing a sweeping overhaul of its electric vehicle business, and it's going to amount to about $19.5% billion in charges. It's also going to include scrapping its next generation electric F-Series truck as the shift gears to a hybrid. Joining us right now to talk a little bit more about this is the host of Bloomberg's Open Interest, Matt Miller, and he brings along with him the CEO of Ford, Jim Farley.Jim, thanks very much for joining us. This is a major p ...