Ford urges its managers to buy more EVs with new leasing policy

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DETROIT ? Ford Motor is trying to get more of its managers to buy electric vehicles, according to an internal email the automaker sent last week that was reviewed by Reuters. The Dearborn, Michigan-based company changed a leasing program it offers to eligible current and former managers, now requiring them to order an electric Mustang Mach-E SUV or F-150 Lightning pickup if they wish to lease a supplemental vehicle.

Sales of the F-150 Lightning have come in slower than Ford CEO Jim Farley initially projected. After twice expanding production capacity for the F-150 Lightning plant and adding a third shift to the facility, Ford halved production of the electric truck earlier this year. Farley expected the plant to churn out trucks at a 150,000-vehicle annualized run rate, before walking back those goals over the last year. Ford sold about 24,000 Lightnings in 2023 and about 41,000 Mach-E SUVs the same year.

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