Ford announced that customers who are leasing any of the Blue Oval’s all-electric vehicles will no longer be able to buy out the vehicle at lease end. The new policy currently impacts lessees in 38 states and will roll out across the country by the end of 2022. The change impacts the automaker’s three available EVs (the F-150 Lightning, Mustang Mach-E and E-Transit) and applies to leases initiated on or after June 15. Customers who signed a lease prior to this date will still have the opportunity to buy out the vehicle.
According to the automaker, the changes to its lease policy will help manage its EV battery recycling and materials. Ford previously announced a $22 billion electrification strategy that included the establishment of the Ion Park global battery center in southeast Michigan, where it plans to scale battery design and production.