On November 1, Financial Link reported (Editor Bian Chun) that U.S. automotive giant Ford announced on Thursday that due to sluggish demand for electric vehicles, the company will halt production of its all-electric F-150 Lightning pickup truck for several weeks. This is another move by the automaker to adjust its electrification global strategy.

Ford stated that its Rouge electric vehicle factory on the outskirts of Detroit will shut down for seven weeks from November 18 to January 6, including the previously planned year-end holiday shutdown. Approximately 730 hourly workers at the factory will be temporarily laid off.

"We will continue to adjust production to achieve the optimal combination of sales growth and profitability." Ford stated in an email declaration.

The slowed production represents the fall from favor of the F-150 Lightning pickup truck. Ford CEO Jim Farley and other executives had previously touted this vehicle as important as the Model T, the first mass-produced car globally, recognized as one of the most significant models in history.

Ford announced the production shutdown plans mentioned above at a time when, due to rising costs and consumer acceptance issues, the sales growth rate of all-electric vehicles is not as fast as many had anticipated.

Ford has slowed down the pace of automotive electrification this year. The company announced in August that it would cancel a full-size three-row seat all-electric model similar to the SUV Conqueror and delay the launch of a new electric version of the F-150.

Due to sluggish consumer demand, Ford's electric vehicle division has suffered significant losses, so the automaker recently chose to invest more in hybrid cars rather than electric vehicles.

Despite the significant increase in sales of the F-150 Lightning pickup truck this year, Ford also recorded losses on this model due to cost issues and related sales subsidy programs.

Ford stated earlier this week that its electric vehicle business incurred a $3.7 billion loss in the first nine months of this year, with the loss expected to reach $5 billion for the full year.

Ford executives have indicated that the cost of the next generation of electric vehicles for the company will be lower than the current generation. They will not introduce new products unless they can achieve profitability within a year.