Ford extends electric F-150 production halt
Ford Motor Co. (F) said Friday it will extend a production halt for its electric pickup truck by another week. Battery-cell production has resumed at the supplier's plant, but it will take the supplier, SK, "time to ensure they are back to building high-quality cells and to deliver them to the Lightning production line," a Ford spokesperson said. Ford's EV plant in Michigan "will suspend production through the end of next week, and we'll continue to provide updates." Ford said a battery fire during pre-delivery quality checks led to the halt, but F-150 Lightnings already delivered are affected. Ford stock dropped more than 1% on Friday as equity markets slumped after the Federal Reserve's preferred inflation measure came in hotter-than-expected for January. Ford is down 31% in the last 12 months, compared with losses of around 8% for the S&P 500 Index.
(END) Dow Jones Newswires
February 24, 2023 14:51 ET (19:51 GMT)
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