Recently, Ford Motor Company announced that it would double the production number of the new Ford F-150 Lightning truck to 150,000 models per year. According to Ford, the reasoning behind this surge is clear; over 200,000 reservations of the F-150 Lightning have been made.
Previously, Ford announced they were expanding the production number from 40,000 to 80,000 F-150 Lightning trucks. Per Ford, many of the 200,000 reservation holders are first-time Ford buyers.
Because of the massive influx of reservations, Ford decided that more production capacity was needed. With the announcement, Ford shares went up over 10%. The move is seen by many as an important first step toward electrifying the U.S. truck market.
The Ford F-150 Lightning is a game-changing truck with an all-electric powertrain and the capability and toughness to carry the heavy loads in any work situation.
To prepare for the increase in production, Ford announced they would create 11,000 jobs with new production campuses in Tennessee and Kentucky, with an overall goal to be a major player in the electric vehicle market.
Per Ford Executive Chair Bill Ford, the expansion of the Ford F-150 Lightning production is not only about pushing the Ford brand forward but providing sustainability in protecting the planet for the future.
As it stands, Ford has invested over $30 billion in electric vehicles through 2025. In addition, it aims to compete for the number one spot in electric vehicle production. By 2024, Ford plans to build over 600,000 electric vehicles per year going forward.
In addition to the Ford F-150 Lightning, Ford also announced recently that it would be ramping up production of the Ford Mustang Mach E by a triple of its original production number.