Ford personnel develop the electric F-150 Lightning pickup on Dec. 13, 2022 at the automaker’s Ford Rouge Electrical Vehicle Center (REVC).
Michael Wayland | CNBC
DETROIT – Ford Motor has paused creation and shipments of its electric F-150 Lightning pickup thanks to a potential battery challenge, the corporation said Tuesday.
Ford spokeswoman Emma Bergg declined to disclose details of the possible battery difficulty, which is staying investigated immediately after a motor vehicle exhibited a prospective trouble as section of the automaker’s pre-shipping and delivery good quality inspections.
The stop-shipment purchase and halt in generation was issued at the beginning of final week, in accordance to Bergg. It provides to ongoing “execution problems” in-depth to investors previously this month by Ford CEO Jim Farley that crippled the automaker’s fourth-quarter earnings.
Shares of Ford ended up down about 1% in midafternoon buying and selling Tuesday. The stock was trading for less than $13 a share.
Ford has not founded a timeline for when production and the shipments will resume, in accordance to Bergg.
“The workforce is diligently working on the root trigger evaluation,” she said, including the corporation is “accomplishing the suitable matter by our customers” to solve any potential challenges right before resuming creation and shipments.
Ford is unaware of any incidents or troubles linked with the possible battery concern, Bergg explained. There is no prevent-sale for autos currently on vendor heaps, this means sellers can continue to market automobiles they have on hand.
The halt in creation and shipments was to start with documented Tuesday by Motor Authority.
The F-150 Lightning is becoming closely watched by investors, as it is really the initially mainstream electric pickup truck on the current market and a key start for Ford.
Automakers routinely have issues and remembers linked with automobiles but difficulties with batteries are of certain problem and interest, as the automakers invest billions of pounds in the cars.
One of the most notable challenges has been with Common Motors’ Chevrolet Bolt EVs. The Detroit automaker two years in the past had to remember all of the cars constructed up until eventually then to address fire issues caused by “scarce manufacturing problems” at services of its battery supplier LG Battery Alternative.