Ford has lost $13 billion on EVs since 2023, and sold only 1,500 Lightning trucks in October|@FordCanada|X

Ford is considering canceling its electric F-150 Lightning pickup as weak demand and steep losses weigh on its EV business, according to The Wall Street Journal.

Ford has lost $13 billion on EVs since 2023, and the segment’s sales plunged 24% in October, with only 1,500 Lightning trucks sold compared with 66,000 gas-powered F-Series pickups.

Executives say buyers remain reluctant to pay $50,000 to $90,000 for electric trucks with limited range and towing capacity.

The automaker recently paused the production of Lightning due to an aluminum shortage and is now shifting its focus to smaller, more affordable EVs.

Rivals GM and Stellantis have also scaled back electric truck plans. A final decision is pending, but analysts say that big electric pickups may soon give way to hybrids and more affordable compact EVs.