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The elimination of a $7,500 consumer tax credit and softening of emissions rules by the Trump administration will sharply curtail EV demand in the U.S., Jim Farley said.

Ford Motor Co. shares climbed to their highest level since July 2024 on Sept. 26 on President Donald Trump’s newly announced truck levies.

With President Donald Trump’s tax bill killing EV incentives at the end of the month, the push for a sub-$30,000 vehicle that runs on electrons may help buttress the projected dip in sales.

The new 2.1-million-square-foot structure formally will be called “Ford World Headquarters” when it opens in November.

An instrument panel display failure has resulted in critical information, like warning lights and vehicle speed, not showing up on the dashboard.

The plant, which officially began production Aug. 19, was originally intended to support Ford’s own EV business.

The plan is part of what Farley called a “tremendous pivot” away from its earlier strategy of electrifying its largest models, which it largely abandoned a year ago.

Ford warned profit this year will see a sharp drop on the growing fallout from President Donald Trump’s tariffs, underscoring the policy shifts in Washington that are upending the auto industry.

U.S. automakers face a 50% tariff on steel and aluminum and a 25% tariff on parts and finished vehicles, with some exceptions for products covered under the USMCA that went into effect in 2020.

Ford is recalling almost 700,000 vehicles to address a long-running issue over cracking in an auto part that can leak fuel into the engine and cause fires.