Ford Motor Co. said Tuesday it plans to nearly double production of its hotly anticipated F-150Lightning all-electric pickup to meet rising demand, and the automaker is opening the first wave of order banks this Thursday.
Ford Motor Company, headquartered in Dearborn, USA, is the world’s sixth largest automaker after Toyota, Volkswagen, General Motors, Hyundai and Stellantis. Ford’s 2020 revenue was $127.1 billion and it reported a profit of $4.8 billion.
The Dearborn, Michigan-based automaker announced plans to nearly double production capacity of the F-150 Lightning all-electric pickup at its Rouge Electric Vehicle Center to 150,000 vehicles per year. Ford plans to ramp up production to about 80,000 units for the 2023 model year and then reach a production rate of 150,000 units per year by the middle of calendar year 2023. The long-established carmaker’s new target is designed to meet “rapidly increasing customer demand” and comes in the context of the company’s ambition to switch entirely to electric vehicles in the coming years.
The automaker said it is on track to begin customer deliveries for the F-150 Lightning this spring. The electric pickup is in its final pre-production phase before going into mass production, and the pre-production vehicles will be used for real-world testing to accumulate a total of one million miles.
Ford is reacting significantly positively to the news, closing the day at $24.31, up +11.67 percent.
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