Ford Scraps EVs, Takes $19.5B Hit

Ford, a big car company, has decided to stop making some of its electric cars.

This change will cost them a lot of money, about $19.5 billion.

They are also going to close a factory that makes batteries for these cars.

Instead of focusing only on electric cars, Ford will now make more hybrid cars that use both gas and electricity.

They think this will help them make more money in the long run.

However, some people will lose their jobs at the battery factory, even though Ford says they will create new jobs later.

This decision comes as electric car sales have been going down, partly because a big tax break for buying electric cars ended.

Ford's leader said they don't want to spend more money on electric cars that aren't making a profit.

Meanwhile, other car companies like General Motors and Stellantis are also focusing more on gas-powered cars, which make more money.

But they still want to be part of the electric car market and are working on making cheaper and better electric cars.

However, Chinese companies are already way ahead in the electric car market, and it might be hard for American companies to catch up.