While Ford shares are remarkably steady after $20 billion charge, these stocks are getting battered

By Steve Goldstein

Ford F-150 Lightning EVs will stop being made.

Ford Motor Co.'s decision to take a nearly $20 billion charge as it shifts to hybrids from electric vehicles had little impact on the automaker's stock but did send shares of battery makers lower.

SK Innovation (KR:096770) , Ford's partner on battery plants in Tennessee and Kentucky, fell 3% in Seoul, as LG Energy Solution (KR:373220) shares dipped 6%.

SK IE Technology (KR:361610), which makers lithium-ion battery separators, and battery-material maker Ecopro Materials (KR:450080) dropped 5% each.

In early premarket trade, QuantumScape (QS) stock fell 2%, while Ford (F) was little changed.

Analysts at Citi called the news negative for the Korea battery supply chain, with Ford stopping production of the F-150 Lightning EV and replacing it with an electric range-extended version, which the Citi analysts say will contain "sharply lower" battery content.

As for Ford itself, Citi analyst Michael Ward said the decision was evidence of a more proactive auto industry than in the past. "Previous generations would have debated a decision like this for years, allowing the cloud to remain, and it would have looked for ways to pressure suppliers and dealers to pay for unplanned errors," said Ward.

-Steve Goldstein

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12-16-25 0510ET