The Detroit auto giant said on Monday it would pull back from electric vehicles in a move that would cost the company nearly $20 billion.

South Korea's LG Energy Solution said on Wednesday that Ford Motor has terminated an electric vehicle (EV) battery-supply deal worth about 9.6 trillion won ($6.50 billion). The South Korean battery ma

Ford Motor Co. announced a realignment of its long-term strategy, shifting investment toward hybrids, affordable EVs, expanded truck and van production and a new battery-storage business.

Several months ago, Ford CEO Jim Farley said ending the nearly two-decade-long EV tax credit would halve America’s electric-vehicle market. Now his company is facing its own reality check.

The end of the best-selling electric pickup truck is here: Ford is pulling the plug on the F-150 Lightning by the end of the year. It’s not dead dead, but the next version of the Lightning will be an extended range electric vehicle, known as an EREV. Ford is positioning it as the “next-generation.”

Ford announced a series of moves in its EV business, pivoting to a hybrid and extended-range EV strategy instead of full EVs, and will take a whopping $19.5 billion in charges related to the move.

Ford CEO Jim Farley walked through Ford’s Michigan design studio Monday afternoon, reflecting on how he was about to wipe out thousands of work hours on electric vehicles that he and his team had hoped would revolutionize the American auto industry.

According to Morgan Stanley’s Global Utilities analysts, total stationary energy-storage deployment for batteries is expected to grow at a 15% compounded annual growth rate to ~600 GWh annually by 2030.