Electric vehicle (EV) stocks are falling on Friday as the market reacts to news of Ford (NYSE:F) cutting production of the F-150 Lightning.
That’s a blow to EV stocks, as it has some investors worried that demand for EVs is starting to weaken in 2024. In this case, Ford confirms that the production cuts for the electric pickup truck are to meet customer demand.
The Ford production cuts will have the company reducing the manufacturing shifts for the EV model from two to one. That will impact 1,400 employees when the change goes into effect in April.
It also bears mentioning that Ford is preparing to add another production shift for its Bronco and Ranger lines. These are both vehicles that use traditional combustion engines instead of electric ones.
Keeping all of that in mind, let’s check out how this news is affecting EV stocks below!
EV Stocks Down Today
- Ford stock starts us off with a slight drop on Friday morning.
- Next is Lucid (NASDAQ:LCID) stock with another slight decrease this morning.
- Rivian Automotive (NASDAQ:RIVN) stock is among the EV shares slipping on Friday.
- Tesla (NASDAQ:TSLA) stock closes out the EV shares falling today with a minor dip in price.
Investors searching for more of the most recent stock market stories are going to want to keep reading!
We have all of the hottest stock market news that traders need to know about on Friday! A few examples include what’s going on with shares of AST SpaceMobile (NASDAQ:ASTS), Archer Aviation (NYSE:ACHR) and Q.E.P. (OTCMKTS:QEPC) today. You can learn more on these topics at the following links!
More Friday Stock Market News
- ASTS Stock Plunges on $100 Million Offering From AST SpaceMobile
- ACHR Stock: Archer Aviation Hires Former Wheels Up, Delta Leaders
- QEPC Stock Earnings: Q.E.P. Reported Results for Q3 2024
On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
