Ford is America's number two electric vehicle brand behind Tesla. But getting there hasn't been easy.
Over the past few years of F-150 Lightning and Mustang Mach-E sales, Ford has sunk billions into models that aren't proving to be profitable, all while it deals with an uneven electric market, a boosted in interest in hybrids, intensifying competition and a rising China.
As a result, the Dearborn automaker today announced some major changes to its EV and hybrid plan, and that includes 10% less capital spending on purely electric models overall.
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