Ford will postpone about $12 billion in EV investment as buyers become more cautious

The company, in turn, is postponing about $12 billion in EV manufacturing investment.Follow your favorite stocksFord workers produce the electric F-150 Lightning pickup on Dec. 13, 2022 at the automaker's Ford Rouge Electric Vehicle Center .As a result, it's postponing about $12 billion in planned spending on new EV manufacturing capacity.

"We're not moving away from our second generation products," CFO John Lawler said in a media briefing Thursday. "We are, though, looking at the pace of capacity that we're putting in place. We are going to push out some of that investment."said Thursday that many customers in North America are no longer willing to pay a premium for an electric vehicle over an internal-combustion or hybrid alternative.

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