Ford CEO Jim Farley said Trump would halve the EV market by ending subsidies. Now he’s writing down $19.5 billion amid a ‘customer-driven’ shift

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.

Ford said this week it would cease production for the original electric F-150 Lightning, which was once touted as a breakthrough for the industry, and shift some of its existing workforce to producing a hybrid version of the pickup with a gas-powered generator called an EREV‚ or an extended range electric vehicle.