"So I think the customer has spoken. That's the punchline," he said during Tuesday's earnings call. Ford's EV unit posted a $4.8 billion loss in 2025, as sales of its Mustang Mach-E, F-150 Lightning, and E-Transit fell 14% from a year earlier.

Now, the automaker is reshaping its electric strategy — shifting toward lower-cost, high-volume EVs and leaning harder into hybrids. It's a reversal of Ford's early strategy of electrifying its most iconic, priciest vehicles first, betting that brand loyalty and subsidies would offset sticker shock.