Ford Pushes Pause on $12B in EV Factory Spending Amid High Costs and Slowing Demand
- Ford postponing $12B in EV factory spending due to high EV costs and lower customer demand
- Kentucky battery factory put on hold; Tennessee project still moving forward
- Ford's EV business lost $1.3B this quarter; projected $4B loss this year
- GM also pushing back electric vehicle production timelines
- Ford reached tentative deal with UAW, ending strike that cost $1.3B
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