Ford temporarily cut one shift from the factory that makes its F-150 Lightning electric pickup. A leaked memo from the United Auto Workers (UAW) union suggests Lightning sales have “tanked.” Chevrolet announced plans to delay converting a second factory to produce its Silverado EV electric truck.
Is the electric vehicle (EV) push slowing down?
Perhaps. But, the plans may signal a normal step in the adoption of a new technology.
Ford May Trim Lightning Production
The Wall Street Journal reports, “Ford Motor is considering cutting a work shift at the plant where it builds its electric F-150 Lightning pickup as demand for the EV truck falters.”
The Journal’s source for the story is a UAW official “who leads the union’s local chapter that represents workers at the truck factory.” The official wrote, “It doesn’t take a rocket scientist to figure out that our sales for the Lightning have tanked,” the Journal reported.
Ford later confirmed the news but not the reason, telling Yahoo Finance, “We are adjusting the schedule at the Rouge Electric Vehicle Center because of multiple constraints, including the supply chain and working through processing and delivering vehicles held for quality checks after restarting production in August.”
The automaker paused deliveries of the truck earlier this month, not because of lack of sales, but to launch new quality checks at the factory.
GM Slowing Silverado EV Plans
GM, meanwhile, announced it will slow plans for electric truck production. The company “will push back the launch of electric pickup production at a Detroit-area factory until late 2025, citing electric vehicle demand and the need for engineering upgrades,” according to industry publication Automotive News.
The move won’t delay the arrival of the Silverado EV, which GM builds at another factory. The company delivered a handful to customers last quarter. But it will mean fewer of the trucks rolling out to dealerships.
What It Means for the EV Push
Automakers are moving into EVs fast. Several luxury brands have announced plans for EV-only lineups as soon as 2030. Mass-market brands and large automakers like GM and Ford have been more measured in their promises, but GM previously announced plans for a primarily electric lineup by 2035.
Seven states pledged to ban the sale of new gas-powered cars by that same date.
Does slowing electric truck production mean those dates will slip?
It may not.
Technology Adoption Isn’t Smooth
Analysts say adoption of a new technology tends to follow a predictable S-curve. It often slows briefly after early adopters jump in but accelerates again later.
Examining EV sales figures last summer, analysts from Kelley Blue Book parent company Cox Automotive cited the Gartner Hype Cycle — a hypothesis suggesting embracing new technologies follows a pattern. Early on, it predicts a trough is when a technology fails to deliver on its most outlandish promises. Adoption picks up, the theory says, as the technology becomes embedded in the culture anyway.
EV adoption faces additional challenges as charging infrastructure needs to grow before EVs become practical everywhere.
EV Sales Still Accelerating
But, EV sales growth continues to outpace the sales growth of gas-powered cars. When the year began, Cox Automotive analysts predicted Americans would buy more than 1 million EVs for the first time this year. After the third quarter, analysts revised their estimate to say we’ll cross that threshold before Thanksgiving.
Cybertruck May Come Soon, Igniting New Hype
Even the electric truck market may get a shot of adrenaline soon. Tesla’s dramatically styled Cybertruck is nearing production. Electrek reported, “A small fleet of Tesla Cybertrucks has been spotted” outside a factory, suggesting the company may make its first deliveries soon.
