Ford cuts battery orders to ease EV losses

Ford Motor Company has begun reducing the number of batteries ordered from battery suppliers to reduce losses in its electric vehicle business, according to reports, citing people familiar with the matter. This is part of Ford's strategic adjustment to its electric vehicle business, which also includes reducing spending on battery electric models by $12 billion, delaying the release of new electric vehicles, lowering the prices of models such as the F-150 Lightning, and delaying and reducing the size of planned battery factories. Although Ford has reduced its battery orders, it is still maintaining partnerships with suppliers, including SK On, a battery manufacturer of South Korea's SK Group, and LG Energy Solutions. The two companies said their contracts with Ford remain valid.