Ford has removed the end-of-lease buyout option for EV leasing for its models like Mustang Mach E, F-150 lighting & others.
The decision is effective from 15 June. However, customers with leases before it still have the purchase choice.
The decision is taken under Ford's plan to make its EVs more affordable & available in the market.
This decision applies in 38 states and will remain effective by the end of the year.
With EVs rising, automakers are limiting their customer's ability to sell their lease outside the brand.
Ford is now focusing on a new battery strategy- recycling & localizing production.
The battery production & research cost millions. At present, Ford is spending $185million on it.
Ford wants to keep its EVs in its network for longer so that it can oversee battery recycling & material better.