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Starting April 1, one-third of the workforce will remain on-site at Ford’s Rouge EV plant in Michigan. Ford is drastically cutting its workforce at the facility where the F-150 Lightning is built, with demand “much slower” than expected.

Ford cutting F-150 Lightning workforce

Ford initially announced the reduction in January, citing “slower than expected” demand. Although Ford’s Lightning was the best-selling electric pickup last year, topping Rivian’s R1T, the EV truck faces new competition in a challenging market.

According to Ford spokeswoman Jessica Enoch, one-third of the 2,100 workers will remain at the plant starting April 1, 2024.

Enoch told The Detroit Free Press that 700 workers will be transferred to its Michigan Assembly plant to help build the Bronco and Ranger. Meanwhile, the remaining 700 can either take the $50,000 retirement package from the 2023 contract negotiations, or be reassigned to is Michigan Assembly plant.

Ford’s workforce reduction at the F-150 Lightning plant will not include job losses. Instead, workers are being reassigned or offered retirement.

In January, Spokesperson Martin Gunsberg told Electrek that the facility had been running with three crews working two shifts. Starting next week, it will go down to one crew working one shift.

Ford-cutting-Lightning
Ford F-150 Lightning production (Source: Ford)

“Their intentions were to build 180,000-plus units. Right now, we’re looking at 55,000 units they’re gonna build,” according to Todd Dunn, president of UAW Local 862.

The move comes after Ford said it would ramp up Lightning production just a year ago. However, the automaker has been rotating shifts at the facility since October.

Enoch said new vehicles have been held for quality review since early February. Shipments are expected to begin in April.

Ford introduced significant incentives on the 2023 F-150 Lightning to make room for new models. The 2023 Lightning Lariat, XLT, and Pro trims are eligible for a $7,500 retail credit.


2024 Ford F-150 Lightning trim
Price Range
(EPA-est miles)
Pro $54,995 240
XLT $64,995 240
Flash $73,495 320
Lariat $79,495 320
Platinum $84,995 300
Platinum Black $92,995 300
2024 Ford F-150 Lightning price and range by trim

Ford also made several adjustments to 2024MY Lightning prices. The base Pro trim, starts at $54,995 with 240 miles range. The lineup also gained a “Flash” trim in 2024 with a tech-focused interior, Ford’s Tow Tech package, and up to 320 miles range. It starts at $73,495.

Ford-affordable-EV-pickup
2024 Ford F-150 Flash (Source: Ford)

Electrek’s Take

The workforce reduction comes as Ford shifts plans from larger EVs to smaller, more affordable ones.

CEO Jim Farley revealed Ford was developing a low-cost EV platform. Led by Alan Clarke, a top engineer for Tesla’s Model Y and 3, Farley said it has “some of the best EV engineers in the world” developing the platform.

Ford’s CFO, John Lawler, reiterated these plans at the BofA Auto Summit Tuesday. Lawler said, “The game will not be fought and won with larger vehicles.” Smaller, more affordable ones will win in the long run.

The new EV platform will have multiple “top hats,” enabling new electric SUVs, trucks, sedans, and vans.

According to Bloomberg Businessweek, a smaller, cheaper electric pickup and SUV will be the first to launch on the platform. The first model is expected to be available in 2026, with starting prices around $25,000.

Lawler said the ultimate competition will be low-cost EVs from China, like BYD, and Tesla, which is planning a $25,000 EV of its own.

Ford’s CFO said Ford is matching capacity with demand. He added “demand is much slower than the industry expected.”

Meanwhile, Ford faces stiff competition in both the electric pickup and mid-size electric SUV market. New electric pickups like the Tesla Cybertruck and Chevy Silverado EV are rolling out while Rivian continues building R1T capacity.

Ford’s Mustang Mach-E is among the most popular EV segments, along with Tesla’s Model Y, the Hyundai IONIQ 5, the Volkswagen ID.4, and the Kia EV6. New electric SUVs like the Honda Prologue and Acura ZDX are joining the market.

Have you been eyeing Ford’s all-electric models? Now may be the perfect time to start shopping with significant savings. You can use our links below to find great deals on Ford’s EVs at a dealer near you.

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Paris’ popular bike share program has a big sticky finger problem

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Paris' popular bike share program has a big sticky finger problem

Paris’ bike-share system, Vélib has long been considered one of the shining success stories of urban micromobility. With a massive fleet of over 20,000 pedal and electric-assist bicycles around Paris, the service has helped millions of residents and tourists get around the City of Light without needing a car or scooter. But lately, a growing problem is threatening to knock the wheels off this urban mobility marvel: theft and joyriding.

According to city officials and the service operator, more than 600 Vélib bikes are now going missing every single week. That’s over 30 bikes a day simply vanishing from the system – some stolen outright, others taken on “joy rides” and never returned.

“At the moment we’re missing 3,000 bikes,” explained Sylvain Raifaud, head of the Agemob company that currently operates the Velib system. That’s nearly 15% of over 20,000 Vélib bikes across Paris.

The sticky-fingered culprits aren’t necessarily professional thieves or organized crime rings. Instead, they’re often regular users who treat the shared bikes like disposable toys.

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The city estimates that many people have figured out how to pry the bikes out of the system’s parking docks, unlocking one for a casual cruise and then ditching it somewhere far from a docking station.

Once pried free, the bikes are technically usable for the next 24 hours until their automatic locking feature kicks in. At that point, the bikes are often simply abandoned. Some end up in alleyways. Others get tossed in rivers. A few just disappear completely.

And since the bikes are intended to be parked at their many docking stations around the city, they don’t have GPS chips, further complicating recovery of “liberated” bikes.

The issue started small but has grown into more than an inconvenience – it’s beginning to undermine the entire purpose of the service. With bikes going missing at such a high rate, many Vélib docking stations are left empty, especially during rush hours.

Riders looking for a quick commute or a convenient hop across town are increasingly finding themselves without available bikes, or having to walk long distances to find a functioning one.

That kind of unreliability chips away at user confidence and threatens to drive potential riders back into cars, cabs, or other less sustainable forms of transport at a time when Paris has already made great strides to dramatically reduce car usage in the city.

The losses are financially painful, too. Replacing stolen or vandalized bikes isn’t cheap, and the resources spent on tracking down missing equipment or reinforcing anti-theft measures are stretching thin. Vélib has faced theft and vandalism issues before, especially during its early years, but this latest surge has officials sounding the alarm with renewed urgency.

Officials acknowledge that there’s no easy fix. Paris, like many cities with bike-share systems, walks a fine line between accessibility and accountability. Part of what makes Vélib so successful is its ease of use and widespread availability. But those same features make it vulnerable to misuse – especially when enforcement is limited and the consequences for abuse are minimal.

The timing of the problem is especially unfortunate. In recent years, Paris has seen impressive results in reducing car traffic, expanding bike lanes, and promoting cycling as a key part of its sustainable transport strategy. Vélib is a cornerstone of that plan. But if the system becomes too unreliable, it risks losing the very people it was designed to serve.

Meanwhile, as Parisians increasingly find themselves staring at empty docks, the challenge for the city and Vélib will be to restore confidence in the system without making it harder to use. That means striking the right balance between freedom and responsibility, between open access and protection against abuse.

In a city where cycling is supposed to be the future of mobility, losing thousands of bikes to joyriders and sticky fingers isn’t just frustrating; it’s unsustainable.

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CNBC Daily Open: Elon Musk, founder of companies and political parties

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CNBC Daily Open: Elon Musk, founder of companies and political parties

U.S. President Donald Trump and Elon Musk attend a press event in the Oval Office of the White House in Washington, D.C., U.S., May 30, 2025.

Nathan Howard | Reuters

When they lose a significant other, most men do indeed become a “TRAIN WRECK.” Then they pick up the pieces of their lives and start living again — paying attention to their personal grooming, hitting the gym and discovering new hobbies.

What does the world’s richest man do? He starts a political party.

Last weekend, as the United States celebrated its independence from the British in 1776, Elon Musk enshrined his sovereignty from U.S. President Donald Trump by establishing the creatively named “American Party.”

Few details have been revealed, but Musk said the party will focus on “just 2 or 3 Senate seats and 8 to 10 House districts,” and will have legislative discussions “with both parties” — referring to the U.S. Democratic and Republican Parties.

It might be easier to realize Musk’s dream of colonizing Mars than to bridge the political aisle in the U.S. government today.

To be fair, some thought appeared to be behind the move. Musk decided to form the party after holding a poll on X in which 65.4% of respondents voted in favor.

Folks, here’s direct democracy — and the powerful post-separation motivation — in action.

 — CNBC’s Erin Doherty contributed to this report.

What you need to know today

And finally…

An investor sits in front of a board showing stock information at a brokerage office in Beijing, China.

Thomas Peter | Reuters

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CNBC Daily Open: Most people don’t start a political party after separation

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CNBC Daily Open: Most people don't start a political party after separation

US President Donald Trump, right, and Elon Musk, chief executive officer of Tesla Inc., during a news conference in the Oval Office of the White House in Washington, DC, US, on Friday, May 30, 2025.

Francis Chung | Bloomberg | Getty Images

When they find themselves without a significant other, most men finally start living: They pay attention to their personal grooming, hit the gym and discover new hobbies.

What does the world’s richest man do? He starts a political party.

Last weekend, as the United States celebrated its independence from the British in 1776, Elon Musk enshrined his sovereignty from U.S. President Donald Trump by establishing the creatively named “American Party.”

Few details have been revealed, but Musk said the party will focus on “just 2 or 3 Senate seats and 8 to 10 House districts,” and will have legislative discussions “with both parties” — referring to the U.S. Democratic and Republican Parties.

It might be easier to realize Musk’s dream of colonizing Mars than to bridge the political aisle in the U.S. government today.

To be fair, some thought appeared to be behind the move. Musk decided to form the party after holding a poll on X in which 65.4% of respondents voted in favor.

Folks, here’s direct democracy — and the powerful post-separation motivation — in action.

 — CNBC’s Erin Doherty contributed to this report.

What you need to know today

Trump confirms tariffs will kick in Aug. 1. That postpones the deadline by a month, but tariffs could “boomerang” back to April levels for countries without deals. Trump on Friday said letters with “take it or leave it” offers will go out to 12 countries Monday.

U.S. stock futures slipped Sunday. Despite the White House pushing back the return of “reciprocal” tariffs, some investors could be worried trade negotiations would result in higher-than-expected duties. Europe’s Stoxx 600 index dropped 0.48% Friday.

OPEC+ members to increase oil output. Eight members of the alliance agreed on Saturday to hike their collective crude production by 548,000 barrels per day, around 100,000 more than expected.

Elon Musk forms a new political party. On Saturday, the world’s richest man said he has formed a new U.S. political party named the “American Party,” which he claims will give Americans “back your freedom.”

[PRO] Wall Street is growing cautious on European equities. As investors seek shelter from tumult in U.S., the Stoxx 600 index has risen 6.6% year to date. Analysts, however, think the foundations of that growth could be shaky.

And finally…

Ayrton Senna driving the Marlboro McLaren during the Belgian Grand Prix in 1992.

Pascal Rondeau | Hulton Archive | Getty Images

The CEO mindset is shifting. It’s no longer all about winning

https://www.cnbc.com/2025/07/06/the-ceo-mindset-is-shifting-its-no-longer-all-about-winning.html

CEOs today aren’t just steering companies — they’re navigating a minefield. From geopolitical shocks and economic volatility to rapid shifts in tech and consumer behavior, the playbook for leadership is being rewritten in real time.

In an exclusive interview with CNBC earlier this week, McLaren Racing CEO Zak Brown outlined a leadership approach centered on urgency, momentum and learning from failure. 

— Spriha Srivastava

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