Electric F150 is a success; Ford to double its production

Ford has already received 120,000 reservations for the F-150 Lightning, ahead of its market launch in 2022.

Ford is planning to double the production of its recently unveiled F-150 Lightning electric truck. According to a media report, the decision to increase the production targets is because of the strong demand for the electric truck, from both retail and commercial customers.

Reports suggest that Ford has already received 120,000 reservations for the F-150 Lightning, ahead of its market launch in 2022. To meet the demand, Ford will ramp up the production number to 15,000 units next year, 55,000 vehicles in 2023 and 80,000 units in 2024.

Reports also stated that Ford is targeting a production capacity of 160,000 units in 2025 with their second-generation Lightning. This new model will be based on the brand's TE1 platform, unlike the current Lightning truck, which uses the same underpinnings as the standard F-150.

To achieve the increased production capacity, Ford will be investing $850 million - this is in addition to the $30 billion it would have already spent by 2025.

Source: Reuters