New Delhi, Dec. 16 -- Ford Motor announced a major strategic retreat from pure electric vehicles (EVs) on Monday, citing weakening consumer demand and the impact of recent policy changes by the Trump administration. The company will take a colossal $19.5 billion writedown, primarily in the fourth quarter, signalling one of the most dramatic setbacks for the auto industry's electrification efforts.

The writedown includes $8.5 billion for cancelled EV projects, $6 billion related to dissolving a battery joint venture with South Korea's SK On, and $5 billion for other programme-related expenses.

In response to the shifting market, Ford is immediately scrapping several planned models, including a next-generation electric truck (codenamed T3...