Ford News: Ford F-150 Lightning Electric Truck Doubles Production goals from 2022 to 2025 when the Second Generation will come out.

[David]

According to Reuters, strong demand has already made Ford increase production again ahead of the 2022 launch. Ford plans to increase spending an additional $850 million to meet the new targets according to people familiar with the plan inside Ford and at their suppliers.

Ford initially had very simple easy goal of less than 5,000 trucks initially for the production launch in 2022, but by the approach of the truck reveal they had upped it to 7,500. Since then with the strong 150,000 customer reserves on top of production orders by Ford Dealers, Ford has again upped production. This time Ford has doubled production estimates all the way through 2025 when the generation two F-150 Lighting comes out.

Ford production plans now stand as follows:

• 2022 - 15,000
• 2023 - 55,000
• 2025 - 160,000

Share of Ford rose 1.3% today on this news as investors are very positive about big growth for Ford as they move over to electric auto's. Ford officials have confirmed that they are pleasantly surprised by the early demand for the Ford Lighting electric truck.

While various Industry observers have questioned if consumers will give up their gas-powered pickups for electric, commercial customers are looking to reduce their carbon footprint with trucks and vans and have been a huge source of interest and pre-purchases.

Ford has not stated how many commercial reservations they have only focusing on retail customer reservations, but the constant increase in production numbers would imply a rather large push to change over from gas/diesel to electric.

 

EXCLUSIVE Ford doubles Lightning production target on strong pre-launch demand -sources | Reuters

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