Ford Follows Customers to Drive Profitable Growth; Reinvests in Trucks, Hybrids, Affordable EVs, Battery Storage; Takes EV-Related Charges

DEARBORN, Mich.--(BUSINESS WIRE)--Dec 15, 2025--

Ford Motor Company today announced a series of actions to sharpen its Ford+ plan, executing a decisive redeployment of capital to meet customer demand and drive profitable growth.

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The company is shifting to higher-return opportunities, including leveraging its U.S. manufacturing footprint to add trucks and vans to its lineup and launch a new, high-growth battery energy storage business. As part of these actions, Ford no longer plans to produce select larger electric vehicles where the business case has eroded due to lower-than-expected demand, high costs and regulatory changes.

This approach prioritizes affordability, choice and profits. Ford will expand powertrain choice – including a range of hybrids and extended-range electric propulsion – while focusing its pure electric vehicle development on its flexible Universal EV Platform for smaller, affordable models.

“This is a customer-driven shift to create a stronger, more resilient and more profitable Ford,” said Ford president and CEO Jim Farley. “The operating reality has changed, and we are redeploying capital into higher-return growth opportunities: Ford Pro, our market-leading trucks and vans, hybrids and high-margin opportunities like our new battery energy storage business.”

These actions provide a path to profitability in Model e by 2029, targeting annual improvements beginning in 2026. The actions will also improve profits in Ford Blue and Ford Pro over time with early signs of benefits in 2026. As a result, Ford expects to record about $19.5 billion in special items, the majority in the fourth quarter of 2025, with the remainder in 2026 and 2027. As part of these special items, the company expects approximately $5.5 billion in cash effects, with the majority paid in 2026 and the remainder in 2027.

To support these actions, Ford and its subsidiaries plan to hire thousands of people across America, reinforcing the company’s leadership as the top employer of U.S. hourly autoworkers.

The evolved strategy is built on four key pillars.

Expanding Customer Choice with Gas, Hybrids and Low-Cost Electric Vehicle Platform

By 2030, Ford expects approximately 50% of its global volume will be hybrids, extended-range EVs and fully electric vehicles, up from 17% in 2025.

Ford will concentrate its North American electric vehicle development on its new, low-cost, flexible Universal EV Platform. This next-generation architecture is engineered to underpin a high-volume family of smaller, highly efficient and affordable electric vehicles designed to be accessible to millions of customers.

The first vehicle from the Universal EV Platform will be the fully connected midsize pickup truck assembled at Louisville Assembly Plant starting in 2027.

Ford plans to expand hybrids with a range of executions based on customer needs and duty cycle – economical, performance hybrids and hybrids with exportable power. Ford is enhancing its strategy for larger trucks and SUVs to better align with customer demand for capability, towing and range, which includes adding extended-range electric options to its lineup.

As part of this plan, Ford’s next-generation F-150 Lightning will shift to an extended-range electric vehicle (EREV) architecture and be assembled at the Rouge Electric Vehicle Center in Dearborn, Michigan. Production of the current generation F-150 Lightning has concluded as Ford redeploys employees to Dearborn Truck Plant to support a third crew for F-150 gas and hybrid truck production as a result of the Novelis fires.

“The F-150 Lightning is a groundbreaking product that demonstrated an electric pickup can still be a great F-Series,” said Doug Field, Ford’s chief EV, digital and design officer. “Our next-generation Lightning EREV is every bit as revolutionary. It keeps everything customers love – 100% electric power delivery, sub-5-second acceleration – and adds an estimated 700+ mile range and tows like a locomotive. It will be an incredibly versatile tool delivered in a capital-efficient way.”

The company no longer intends to produce a previously planned new electric commercial van for Europe but will continue to maintain its full lineup of electrified vans for that market. Ford also plans to replace a planned electric commercial van for North America with a new, affordable commercial van –with gas and hybrid models – to meet the needs of commercial customers. This new van will be manufactured at Ford’s Ohio Assembly Plant.

These moves complement the company’s plan to launch five new affordable vehicles by the end of the decade, four of which will be assembled in the U.S. The company also plans to expand gas, hybrid and extended-range electric options across its portfolio with nearly every vehicle featuring a hybrid or multi-energy powertrain choice by the end of the decade.

Recently, Ford announced a series of changes to its business in Europe, including new leadership to drive the strategic direction, and a European product offensive that will bring a new generation of multi-energy vehicles to customers in Europe. Ford also announced a strategic partnership with Renault to collaborate in the development of electric vehicles in both the commercial and passenger segments.

Expanding Ford’s Truck and Van Leadership with New U.S. Production

This strategy reinforces Ford’s commitment to American manufacturing by repurposing its facilities in Tennessee and Ohio to expand its truck and van lineup leadership.

Launching a Battery Energy Storage System Business

Ford is launching a new business – including sales and service – to capture the large demand for battery energy storage from data centers and infrastructure to support the electric grid. Ford plans to repurpose existing U.S. battery manufacturing capacity in Glendale, Kentucky, to serve the rapidly growing battery energy storage systems market. This strategic initiative will leverage currently underutilized electric vehicle battery capacity to create a new, diversified and profitable revenue stream for Ford. The company also plans to invest roughly $2 billion in the next two years to scale the business.

The Kentucky site will be converted to manufacture 5 MWh+ advanced battery energy storage systems. Ford plans to produce LFP prismatic cells, battery energy storage system modules and 20-foot DC container systems at this facility. These systems are at the heart of the energy storage solution market for data centers, utilities, and large-scale industrial and commercial customers.

Leveraging more than a century of manufacturing expertise and licensed advanced battery technology, Ford plans to bring initial capacity online within 18 months, positioning the company to capture share in the growing U.S. battery energy storage systems market. Ford currently plans to deploy at least 20 GWh annually by late 2027.

Last week, Ford, SK On, SK Battery America and BlueOval SK entered into a joint venture disposition agreement. Under this mutual agreement, a Ford subsidiary will independently own and operate the Kentucky battery plants. SK On will fully own and operate the Tennessee battery plant.

Separately, Ford will utilize BlueOval Battery Park Michigan in Marshall, Michigan, to produce smaller Amp-hour cells for use in residential energy storage solutions. This plant remains on track to begin manufacturing LFP prismatic battery cells in 2026 to power Ford’s upcoming midsize electric truck, the first model on the new Universal EV Platform.

Building a Stronger, More Sustainable Future

Today’s actions are consistent with Ford’s goal of becoming carbon neutral across its vehicles, manufacturing facilities and supply chain no later than 2050.

The company will continue its environmental leadership with investments in cleaner manufacturing, sustainable supply chains and breakthrough technologies that reduce emissions across its entire ecosystem.

Updated 2025 Guidance

Company raises 2025 adjusted EBIT guidance to about $7 billion given continued underlying business strength, including cost improvement. Reaffirms adjusted free cash flow guidance range, trending towards the high end of $2 billion to $3 billion.

Ford plans to report its fourth-quarter and full-year 2025 financial results Tuesday, Feb. 10.

About Ford Motor Company

Ford Motor Company (NYSE: F) is a global company based in Dearborn, Michigan, committed to helping build a better world, where every person is free to move and pursue their dreams. The company’s Ford+ plan for growth and value creation combines existing strengths, new capabilities, and always-on relationships with customers to enrich experiences for customers and deepen their loyalty. Ford develops and delivers innovative, must-have Ford trucks, sport utility vehicles, commercial vans and cars and Lincoln luxury vehicles, along with connected services. The company offers freedom of choice through three customer-centered business segments: Ford Blue, engineering iconic gas-powered and hybrid vehicles; Ford Model e, inventing breakthrough electric vehicles (“EVs”) along with embedded software that defines always-on digital experiences for all customers; and Ford Pro, helping commercial customers transform and expand their businesses with vehicles and services tailored to their needs. Additionally, the Company provides financial services through Ford Motor Credit Company. Ford employs about 170,000 people worldwide. More information about the company and its products and services is available at corporate.ford.com.

Adjusted EBIT and adjusted free cash flow are non-GAAP financial measures. When Ford provides guidance for adjusted EBIT and adjusted free cash flow, the company does not provide guidance for net income or net cash provided by/(used in) operating activities, the respective most comparable GAAP measures, because they include items that are difficult to predict with reasonable certainty. See pages 75-76 of Ford's Annual Report on Form 10-K for the year ended December 31, 2024, for the definitions of adjusted EBIT and adjusted free cash flow.

Cautionary Note on Forward-Looking Statements

Statements included or incorporated by reference herein may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on expectations, forecasts, and assumptions by our management and involve a number of risks, uncertainties, and other factors that could cause actual results to differ materially from those stated, including, without limitation:

We cannot be certain that any expectation, forecast, or assumption made in preparing forward-looking statements will prove accurate, or that any projection will be realized. It is to be expected that there may be differences between projected and actual results. Our forward-looking statements speak only as of the date of their initial issuance, and we do not undertake, and expressly disclaim to the extent permitted by law, any obligation to update or revise publicly any forward-looking statement, whether as a result of new information, future events, or otherwise. For additional discussion, see “Item 1A. Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2024, as updated by our subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K.

For news releases, related materials and high-resolution photos and video, visit www.media.ford.com.

Summary of Estimated Special Items.

Ford Follows Customers to Drive Profitable Growth; Reinvests in Trucks, Hybrids, Affordable EVs, Battery Storage; Takes EV-Related Charges

SYDNEY (AP) — Before the bloodshed and broken hearts, there was a little girl with a gentle soul, a loving grandmother who delivered meals to the needy and a young man dubbed a “golden person” for his kindness. And there was an 87-year-old grandfather who sought solace in Australia after surviving the Holocaust, only to die in what officials have called antisemitic terrorism.

They are among the 15 people killed Sunday evening by two gunmen during a Hanukkah celebration at Sydney’s famous Bondi Beach. Australia’s federal police commissioner said it was a terrorist attack inspired by the Islamic State group.

Here is a closer look at some of the victims:

Matilda, a 10-year-old whose last name has been withheld at the request of her family, was the youngest person killed in the massacre.

Matilda’s language teacher, Irina Goodhew, who launched a GoFundMe for the girl’s grieving family, described her in a Facebook post as a gentle girl who saw beauty in everyone.

“Matilda was a bright and loving soul who taught us that true goodness is found in the love and compassion we share,” Goodhew wrote. “Her memory reminds us to carry kindness in our hearts and spread it to the world. May the light of her eyes live on through us — in our actions, our words, and our love for one another.”

Eli Schlanger, assistant rabbi at Chabad-Lubavitch of Bondi, organized Sunday’s Chanukah by the Sea event. He was a father of five, the youngest of whom was born just two months ago, according to Chabad, an Orthodox Jewish movement that runs outreach worldwide.

The 41-year-old, London-born Schlanger also served as chaplain to the state’s corrective services department and as a chaplain at a Sydney hospital, where he ministered to patients and families.

Schlanger would go wherever he was needed to help people including prisons, said his friend, Ben Wright.

“Eli was a very special person,” Wright told The Associated Press while standing near a cordoned-off section of Bondi the morning after the attack, a black box containing Torah verses strapped to his arm. “He spent a lot of his time trying to get Jews to do one good deed.”

Wright, who saw friends and strangers gunned down during the attack while cradling his 6-month-old baby, said he hopes to emulate Schlanger’s goodness.

Yaakov Levitan, a rabbi and father of four, was known for his kindness and dedication to helping others, according to the Chabad movement, which described him as a “vital, behind-the-scenes pillar” of Sydney’s Jewish community.

Originally from Johannesburg, the 39-year-old served as the general manager of Chabad of Bondi and worked with the Sydney Beth Din, or religious court.

Marika Pogany, an 82-year-old grandmother and community volunteer, delivered thousands of kosher meals to those in need, the Federation of Jewish Communities in Hungary said in a statement.

COA, a Sydney volunteer service for Jewish seniors, said in an Instagram post that Pogany was part of the “beating heart of COA and a source of warmth for thousands of people.”

“For 29 years she arrived at COA with her quiet smile and her steady kindness,” COA wrote. “She lifted the room simply by being in it. She asked for nothing and gave everything.”

Zuzana Čaputová, the former president of Slovakia, called her “Marika” and described Pogany as her “long-term close friend” who had visited Slovakia every year since 1989.

Dan Elkayam, a 27-year-old French national described by his brother as “a golden person,” was a talented soccer player who lived with his girlfriend in Sydney’s eastern suburbs.

Elkayam’s brother, Jérémie Elkayam, told broadcaster France Info that his brother was “someone extraordinary … who profited from life, wasn’t at all materialistic, who understood the value of things and who loved to travel.”

“We are four brothers and, of the four, for me he was the kindest of us,” Jérémie Elkayam said.

Sydney soccer club Rockdale Ilinden FC said in a statement that Elkayam was an extremely talented and popular player with the club’s Premier League team who “will be sorely missed by his teammates and everyone that knew him.”

“Those who were closest to him described him as a down to earth, happy go lucky individual who was warmly embraced by those he met,” club President Dennis Loether said.

French Foreign Minister Jean-Noël Barrot wrote in a post on X that Elkayam’s death was “yet another tragic manifestation of a revolting surge in antisemitic hatred that we must defeat.”

Peter Meagher, known to friends as “Marzo,” was a retired police officer and a team manager and beloved volunteer at Randwick rugby club, which condemned the “abhorrent targeted attack on our Jewish community" in a statement Monday and called Meagher an “absolute legend in our club.”

Meagher was working as a freelance photographer at the Bondi Hanukkah event, the club said, noting his presence was “simply a catastrophic case of being in the wrong place and at the wrong time.”

A photograph with the statement showed “Marzo” written in chalk on a rugby field, along with a team jersey.

Reuven Morrison, 62, was killed while trying to stop one of the shooters, according to his daughter, Sheina Gutnick.

Gutnick told CBS News that her father is the person seen in widely circulated video footage throwing objects at the gunman, which Gutnick said were bricks, after another passerby, Ahmed al Ahmed, wrestled the gun away from the shooter.

“I believe after Ahmed managed to get the gun off the terrorist, my father had then gone to try and unjam the gun, to try and attempt shooting. He was screaming at the terrorist,” she said.

Morrison migrated to Australia from the Soviet Union five decades ago to escape antisemitic persecution. He thought Australia would be safe, Gutnick said.

“This is where he was going to have a family, where he is going to live a life away from persecution,” she said. “And for many years, he did do that; he lived a wonderful, free life. Until Australia turned on him.”

Alex Kleytman was an 87-year-old Holocaust survivor who had moved to Australia from Ukraine.

“I have no husband. I don’t know where is his body,” his wife Larisa Kleytman told reporters outside a Sydney hospital Sunday. “Nobody can give me any answer.”

Larisa told The Australian newspaper that her husband died while protecting her.

“We were standing and suddenly came the ‘boom boom’, and everybody fell down,” she said. “At this moment, he was behind me and at one moment he decided to go close to me. He pushed his body up because he wanted to stay near me.”

The couple survived “the unspeakable terror of the Holocaust” as children before moving to Australia, according to a 2023 report by JewishCare, a service provider for Australia’s Jewish community.

Tibor Weitzen, a 78-year-old grandfather who saw the best in people, migrated to Australia from Israel in 1988, his granddaughter said.

“My grandfather was truly the best you could ask for,” Leor Amzalak told the Australian Broadcasting Corp., the country’s public broadcaster. “He was so proud of us … and loved us more than life itself.”

Panagiotis Pylas in Sydney, John Leicester in Paris, Justin Spike in Budapest, Hungary, and Melanie Lidman in Tel Aviv, Israel, contributed to this report.

British Consul General Louise Cantillon, lays a wreath at a flower memorial for victims of Sunday's shooting at the Bondi Pavilion at Bondi Beach on Tuesday, Dec. 16, 2025, in Sydney, Australia. (AP Photo/Mark Baker)

People weep and offer flowers at a floral memorial for victims of Sunday's shooting at the Bondi Pavilion at Bondi Beach on Tuesday, Dec. 16, 2025, in Sydney, Australia. (AP Photo/Mark Baker)