Ford is pausing production of the all-electric F-150 Lightning, the latest indication that consumer demand for EVs is cooling.

Ford released the F-150 Lighting to a great deal of fanfare and praise. The truck was named 2023 Truck of the Year by MotorTrend, and went on to become the best-selling EV truck before the Tesla Cybertruck took the crown.

Despite Ford’s success with the F-150 Lightning, the company has been losing money on its EVs at an alarming rate. In fact, the company recently revealed that it lost $1.3 billion on EVs in the first quarter alone, leading to significant changes to its strategy.

According to multiple news outlets, as part of its strategy shift, Ford has said it will pause production on the EV truck at least through the early part of 2025. This latest change comes on the heels of Ford scaling back other EV projects.

In late August, the company announced it would not produce the three-row EV SUV it had originally planned. It also announced it was pushing back the launch of its next-gen EV truck.

Ford is retiming the launch of its groundbreaking electric truck code-named “Project T3” to the second half of 2027. Taking all the learnings from F-150 Lightning customers, the truck will offer features and experiences never seen on any Ford truck, including upgraded bi-directional charging capability and advanced aerodynamics. The truck will be assembled at BlueOval City’s Tennessee Electric Vehicle Center.

Ford executives emphasized that the company’s adjustments are aimed at improving the business long-term.

“We’re committed to creating long-term value by building a competitive and profitable business,” said John Lawler, Ford vice chair and chief financial officer, said at the time. “With pricing and margin compression, we’ve made the decision to adjust our product and technology roadmap and industrial footprint to meet our goal of reaching positive EBIT within the first 12 months of launch for all new models.”