Ford’s EV sales climbed 80% year-over-year (YOY) in February following aggressive price cuts last month.
Ford EV sales climb in February following price cuts
After EV sales slipped 11% last month in EV sales last month, Ford saw a big improvement in February with 6,368 all-electric vehicles handed over, up 80.8% over last year.
Ford sold 2,930 Mustang Mach-E models in February, up 64.3% YOY. However, Mach-E sales were down 20% through the first half of 2023 as Ford retooled its Cuatitlan, Mexico plant, where the EV is assembled.
Ford’s CFO John Lawler told investors in October that the company has “taken out some Mustang Mah-E production,” citing market demand.
Meanwhile, Ford F-150 Lightning sales nearly doubled (+93%) YOY, with 2,930 EV trucks delivered. That’s up from the 2,258 Lightning models sold in January.
The growth comes after Ford announced it was cutting Lightning production in January. Ford said the move was to “achieve the optimal balance of production, sales growth and profitability.” E-Transit sales were also up 112.9% last month, with 860 electric vans handed over.
Ford F-150 Lightning production (Source: Ford)
Ford’s overall sales were up 10.5% in February as EVs (+80.8% YOY) and hybrids (+31.5% YOY) carried the growth.
The company’s EV sales growth follows Ford’s decision to slash prices last month. Ford cut 2023 Mustang Mach-E prices by up to $8,100. The automaker also introduced significant incentives on certain 2023 F-150 Lightning models, including up to $12,500 retail bonus cash for the Platinum trim.
Ford Mustang Mach-E (Source: Ford)
Ford announced eligible Mustang Mach-E and F-150 Lightning owners can now request their free CSS to NACS adapter for Tesla’s supercharger network. The company plans to add Tesla’s connector to its next-gen EVs, due in 2025.
Electrek’s Take
Despite Ford cutting production, EV sales are still rising. Ford has pulled back on several EV initiatives, including $12 billion in spending.
Ford isn’t the only one. Rivals, including GM and Mercedes-Benz, revealed similar plans. Meanwhile, pure EV makers like Tesla and Rivian and overseas rivals like Hyundai and Volvo are taking advantage of the transition.
Rivian’s R1S electric SUV was the seventh best-selling EV last year, with over 24,783 units sold. That’s more than the Ford F-150 Lightning (24,165).
Hyundai is opening its first EV and battery plant in the US, a massive $7.6 billion site in Georgia. Once up and running, Hyundai expects EVs assembled at the facility will qualify for the $7,500 federal tax credit, including its first three-row electric SUV, the IONIQ 9.
Ford’s CEO Jim Farley mentioned a “seismic change” in the EV market several times on the company’s Q4 earnings call last month.
Farley said the catalyst is due to EV makers like Tesla cutting prices and “a tremendous amount of capital flowing and a ton of new capacity into one single segment: 2-row crossovers.”
Ford is shifting its focus to smaller EVs. Farley said Ford developed a “super talented skunk works team to create a low-cost EV platform.” The move comes as Ford looks to take on low-cost Chinese automakers and Tesla.
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The e-bike industry in the West has long been a tale of two territories. North Americans enjoy higher speeds and power limits for their electric bicycles while Europeans are held to much stricter (i.e. slower and lower) speed and power limits. However, things might change based on current discussions on rewriting European e-bike regulations.
New power levels are not totally without precedent, either. The UK briefly considered doubling its own e-bike power limit from 250 watts (approximately 1/3 horsepower) to 500 watts, though the move was ultimately abandoned.
But this time, the call for more power is coming from within the house – i.e., Germany. The Germans are the undisputed leaders and trend setters in the European e-bike market, accounting for around two million sales of e-bikes per year. Home to leading e-bike drive makers like Bosch, the country has yet another advantage when it comes to making – or regulating – waves in the industry.
And while there aren’t any pending law changes, the largest German trade organization ZIV (Zweirad-Industrie-Verband), which is highly influential in achieving such changes, is now discussing what it believes could be pertinent updates to current EU electric bike regulations.
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Some of the new regulations involve creating rules maxing out power at levels such as 400% or 600% of the human pedaling input. But a key component of the proposed plan includes changing the present day power limit of e-bikes from 250W of continuous power at the motor to 750W of peak power at the drive wheel.
The difference includes some nuance, since continuous power is often considered more of a nominal figure, meaning nearly every e-bike motor in Europe wears a “250W” or less sticker despite often outputting a higher level of peak power. Even Bosch, which has to walk the tight and narrow as a leader in the European e-bike drive market, shared that its newest models of motors are capable of peak power ratings in the 600W level. That’s still far from the commonly 1,000W to 1,300W peak power seen in US e-bike motors, but offers a nice boost over an actual 250W motor.
Other new regulations up for discussion include proposals to limit fully-loaded cargo e-bike weights to either 250 kg (550 lb) for two-wheelers or 300 kg (660 lb) for e-bikes with more than two wheels. As road.cc explained, ZIV also noted that, “separate framework conditions and parameters must be defined for cargo bikes weighing more than 300 kg (see EN 17860-4:2025) as they differ significantly from EPACs and bicycles in their dynamics, design and operation.” Such heavy-duty cargo e-bikes, which often more closely resemble small delivery vans than large cargo bikes, are becoming more common in the industry and have raised concerns about cargo e-bike bloat, especially in dedicated cycling paths.
It’s too early to say whether European e-bike regulations will actually change, but the fact that key industry voices with the power to influence policy are openly advocating for it suggests that new rules for the European market are a real possibility.
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China just laid out a plan to roll out over 100,000 ultra-fast EV charging stations by 2027 – and they’ll all be open to the public.
The National Development and Reform Commission’s (NDRC) joint notice, issued on Monday, asks local authorities to put together construction plans for highway service areas and prioritize the ones that see 40% or more usage during holiday travel rushes.
The NDRC notes that China’s ultra-fast EV charging infrastructure needs upgrading as more 800V EVs hit the road. Those high-voltage platforms can handle super-fast charging in as little as 10 to 30 minutes, but only if the charging hardware is up to speed.
China had 31.4 million EVs on the road at the end of 2024 – nearly 9% of the country’s total vehicle fleet. But charging access is still catching up. As of May 2025, there were 14.4 million charging points, or roughly 1 for every 2.2 EVs.
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To keep the grid running smoothly, China wants new chargers to be smart, with dynamic pricing to incentivize off-peak charging and solar and storage to power the charging stations.
To make the business side work, the government is pushing for 10-year leases for charging station operators, and it’s backing the buildout with local government bonds.
The NDRC emphasized that the DC fast chargers built will be open to the public. This is a big deal because a lot of fast chargers in China aren’t. For example, BYD’s new megawatt chargers aren’t open to third-party vehicles.
As of September 2024, China had expanded its charging infrastructure to 11.4 million EV chargers, but only 3.3 million were public.
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A U.S. Justice Department logo or seal showing Justice Department headquarters, known as “Main Justice,” is seen behind the podium in the Department’s headquarters briefing room before a news conference with the Attorney General in Washington, January 24, 2023.
Kevin Lamarque | Reuters
Federal prosecutors have charged two men in connection with a sprawling cryptocurrency investment scheme that defrauded victims out of more than $650 million.
The indictment, unsealed in the District of Puerto Rico, accuses Michael Shannon Sims, 48, of Georgia and Florida, and Juan Carlos Reynoso, 57, of New Jersey and Florida, of operating and promoting OmegaPro, an international crypto multi-level marketing scheme that promised investors 300% returns over 16 months through foreign exchange trading.
“This case exposes the ruthless reality of modern financial crime,” said the Internal Revenue Service’s Chief of Criminal Investigations Guy Ficco. “OmegaPro promised financial freedom but delivered financial ruin.”
From 2019 to 2023, Sims, Reynoso and their co-conspirators allegedly lured thousands of victims worldwide to purchase “investment packages” using cryptocurrency, falsely claiming the funds would be safely managed by elite forex traders, the Department of Justice said.
Prosecutors said the pair flaunted their wealth through social media and extravagant events — including projecting the OmegaPro logo onto the Burj Khalifa, Dubai’s tallest building — to convince investors the operation was legitimate.
A video posted to the company’s LinkedIn page shows guests in evening attire posing for photos and watching the spectacle in Dubai.
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In reality, authorities allege, OmegaPro was a pyramid-style fraud.
When the company later claimed it had suffered a hack, the defendants told victims they had transferred their funds to a new platform called Broker Group, the DOJ said. Users were never able to withdraw their money from either platform.
The two men face charges of conspiracy to commit wire fraud and conspiracy to commit money laundering, each carrying a maximum sentence of 20 years in prison.
The Justice Department, FBI, IRS-Criminal Investigation, and Homeland Security Investigations led the multiagency investigation, with help from international partners.