Ford Plans EV Growth in 2024 Despite Adjusting F-150 Lightning Output - Multiple Existing Jobs Impacted Despite Hiring Plans

Ford Motor Company F said it will create nearly 900 new jobs and add a third crew at Michigan Assembly Plant to increase production of the popular Bronco and Bronco Raptor sport-utility vehicles and the all-new Ranger and Ranger Raptor pickups.

The company said it continues to balance production to meet customer demand for its broad portfolio of trucks, utility vehicles, and cars with a mix of gas, hybrid and electric powertrains.

The company, however, is reducing the production of the F-150 Lightning, the top-selling electric pickup in the U.S., to achieve the optimal balance of production, sales growth, and profitability. A few dozen employees could be impacted at component plants supporting F-150 Lightning production, depending on the number of employees who apply for the Special Retirement Incentive Program. 

Apart from this, approximately 1,400 employees will be impacted as the Rouge Electric Vehicle Center transitions to one shift effective April 1. 

Roughly 700 will transfer to Michigan Assembly Plant and the others will be placed in roles at the Rouge Complex or other facilities in Southeast Michigan, or take advantage of the Special Retirement Incentive Program agreed to in the 2023 Ford-UAW contract.  

Ford expects continued growth in global EV sales in 2024, though less than anticipated, and is preparing to launch next-generation EVs.

The company was recently in the headlines for introducing the 2024 Mustang Mach-E GT, complete with a Bronze appearance package and green body color.

Price Action: F shares are trading lower by 0.50% to $11.05 on the last check Friday.

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