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Ford to Take $19.5 Billion Writedown on Underwhelming EV Segment

Ford is significantly restructuring its EV strategy, taking a $19.5 billion charge due to lower-than-expected demand. The company is pivoting towards hybrids and extended-range vehicles, impacting competitors like Tesla and Rivian. This shift is seen as a win for consumers seeking more choice and a reflection of the current reality where less than 10% of US consumers opt for EVs.

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