Ford Motor Co (NYSE: F) mentioned on Tuesday it plans to almost double manufacturing of its hotly-anticipated F-150 Lightning all-electric truck to fulfill hovering demand, and the automaker is opening the primary wave of order banks this Thursday.
What Occurred: The Dearborn, Michigan-based automaker mentioned it’s now planning to almost double the manufacturing capability of the all-electric F-150 Lightning pickup to 150,000 automobiles per 12 months on the Rouge Electrical Car Middle.
Ford mentioned it plans to ramp up manufacturing to about “80,000 models of manufacturing for the 2023 mannequin 12 months” after which to a run-rate of 150,000 models per 12 months by the mid-2023 calendar 12 months.
The legacy automaker’s new goal is to fulfill “hovering buyer demand” and comes amid the corporate’s push to modify totally to electrical automobiles within the coming years.
“The truth is obvious: persons are prepared for an all-electric F-150, and Ford is pulling out all of the stops to scale our operations and enhance manufacturing capability,” mentioned Kumar Galhotra, Ford’s president of Americas & Worldwide Markets Group.
The automaker has almost 200,000 reservations as of Tuesday, excluding fleet reservations.
See Additionally: Ford Says Nearing 200,000 F-150 Lightning Reservations, Order Financial institution Opening Quickly
Ford mentioned it’s implementing a wave-by-wave reservation and welcoming prospects in batches over e mail to transform their F-150 Lightning reservations to last orders. The corporate added that extra reservation holders could be invited in phases to putting their orders over the following few months.
F-150 Lightning’s Manufacturing Standing: The automaker mentioned it’s on observe to start buyer deliveries for the F-150 Lightning this spring. The electrical pickup has entered the ultimate pre-build part earlier than accelerating into mass manufacturing, and the pre-production stage vans might be used for testing in real-world situations to build up a million miles collectively.
Why It Issues: Ford is anticipating the recognition of its most-sold and the most-profitable full-size pickup truck F-150 to trickle all the way down to the electrical variant as nicely. The F-150 Lightning will go on sale at a ticket value of $39,974 and up for the bottom mannequin and a spread of 230 miles for the usual vary.
Ford CEO Jim Farley had final month mentioned the automaker will double electrical automobile manufacturing to 600,000 models by 2023 to fulfill excessive demand.
Ford is spending greater than $30 billion on electrical automobiles by means of 2025 because it goals to seize the No. 2 spot in electrical automobiles in North America.
See Additionally: EXCLUSIVE: Ford Says Fleet Demand For E-Transit, F-150 Lightning Professional Is Excessive, Expects Them To Be Rapidly Offered Out
The event additionally comes near Ford’s plan to triple manufacturing of Mustang Mach-E electrical sports activities utility automobiles to 200,000 models by 2023.
F-150 Lightning is Ford’s second totally electrical mannequin on sale after the Mustang Mach-E.
Worth Motion: Ford inventory is buying and selling 0.83% larger at $21.95 a share premarket on the final examine Tuesday.
Picture: Courtesy of Ford
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