Ford Motor Co. is pivoting away from its once-ambitious electric vehicle plans amid financial losses and waning consumer demand for the vehicles.

Ford will take a $19.5bn (£14.5bn) hit as it tore up plans to invest significant sums into electric cars. The US car giant cut back electric vehicle (EV) production, including the production of large battery-powered pickup trucks, because of a slump in demand from drivers.

Ford cuts F-150 Lightning production as CEO Jim Farley shifts strategic focus to hybrids and affordable EVs, taking massive $19.5 billion charge.

Ford is ending production of the F-150 Lightning truck and pivoting to focus on manufacturing hybrid vehicles and smaller electric vehicles.

Read: Jim Farley Warns Europe It’s Selling Its Future To Chinese Carmakers. Much of Ford’s early EV effort hinged on the F-150 Lightning. Promoted by some as a cornerstone of

The move comes as a response to the Trump administration’s waning support for electrification and a weakening consumer market.

Ford is reworking its future around what customers are actually buying, stepping away from cost-heavy electric bets that no longer add up.

Desperate to catch up with Chinese automakers, Ford is redesigning its fleet with a Silicon Valley-style team. Is it too late?

The Blue Oval announced a major shift in brand strategy. Its future may be more hybrids, plug-in hybrids and EREVs than EVs.