Ford will cut planned production of its electric F-150 Lightning pickup truck in half for 2024, from an average of 3,200 vehicles per week to around 1,600 vehicles per week. Ford cited "changing market demand" in a supplier memo explaining the cuts. Demand for electric vehicles has been slower than expected as prices and interest rates remain high. Sales of the F-150 Lightning have been increasing steadily in 2023, with a record of around 4,400 sold in November. But Ford has only sold 20,365 total so far this year, up 54% from 2022. This comes as Ford cancels or postpones $12 billion in upcoming EV investments.