The Ford F-150 has a lightning bolt.
Ford.
Ford jumped as much as 10% on Tuesday after it said it would double the production of the electric F-150 Lightning.
The new goal is for 150,000 F-150 Lightnings per year, up from the previous goal of 80,000.
Ford received 200,000 reservations for the truck.
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Ford stock jumped as much as 10% on Tuesday after the company said it would double the production of the F-150 Lightning electric truck.
The new goal is for 150,000 F-150s per year by the year 2023, up from the previous goal of 80,000 and an initial one of 40,000. Ford received 200,000 reservations for the electric pickup truck, which required a $100 deposit.
Kumar Galhotra, president of Ford's Americas and international markets group, said that people are ready for an all-electric F-150 and Ford is pulling out all the stops to scale operations and increase production capacity.
The electric F-150, which is the most popular car model in America, will be delivered in the first half of 2022. The F-150 Lightning reservation holders can begin to personalize their cars and pick their trims.
Ford is increasing production of its Mach-E to 200,000 vehicles per year by 2023, as the company has seen success with its electric vehicle efforts. The company's electric van, the E-Transit, will go on sale in early 2022.
Electric vehicles have lifted shareholders because they are good business for Ford. Ford stock surged 138% in 2021, far out pacing even the 50% gain ofTesla and the 27% gain of the S&P 500.
Markets Insider.
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