Ford ends lease buyout options for its electric vehicles

Ford has baffled car buyers leasing Mustang Mach-E and F-150 Lightning by almost immediately changing the policy of their end-of-lease buyout program. According to Ford, this buyout program will phase out by June 15 for most of their electric vehicles so they are able to control the battery recycling and materials – both of which are already in short supply.

Many automakers are following suit and holding onto their brand’s electric vehicles as the numbers are limited. There are huge supply and demand problems, as well as issues with delivery, transportation, and raw materials, that are slowing down the overall production of electric vehicles globally.

To save on costs, Ford is getting rid of the buyout programs for those leading electric vehicles since they can recycle the batteries and keep the electric vehicle ‘in-house.’ Anyone who leased these two vehicles before June 15, though, can take part in the end-of-lease buyout program. 

With research, Ford is expected to contribute about $185 million for a battery center labeled Ford Ion Park. A Ford spokesperson opened up about their plans for the battery center stating they are expecting to recycle and localize battery production as well as upgrade new EVs as soon as possible to offer to consumers leasing the EVs. Ford wants to keep manufacturing in the United States as much as possible.

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