Ford Plans to Almost Double It's Production of the F-150 Lightning

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On of January 4th, 2022, Ford Motor said it plans to almost double the yearly production of its upcoming EV F-150 Lightning to a 150k vehicles per year by mid-2023. This puts out a positive sign for the demand of the Lightning, even though Ford underestimated the demand for the truck. The initial output was only set to be around 40,000 trucks!

Ford's stock reached a new 52-week high day of $24.56 a share on January 4th before closing at $24.31, which is an increase of 11.7%. Its was Ford Motor's highest daily stock increase since June of 2020. Would say that the Lightning has hand in helping this increase.

Ford’s production plans come before the automaker starts taking orders for the vehicle on Thursday. The company received about 200,000 nonbinding reservations for the truck before it stopped taking the preorders last month.

According to Ford's CEO Jim Farley, he said "We had to stop reservations, we got so many." Farley continued, "We stopped at 200,000, and those are orders. Hard orders."

Ford said it will be implementing a “wave-by-wave reservation process,” with reservation holders being asked to watch for an invitation via email from Ford or to log into their Ford.com account over the next few months to place an order for their vehicle.

This week is the final pre-build phase before transitioning into mass production of F-150 Lightning trucks for retail customers and F-150 Lightning Pro for commercial customers, the company said.

Ford’s production plans come a day before General Motors is scheduled to reveal an electric version of its Chevrolet Silverado. The pickup is expected to compete more directly with the F-150 Lightning than its GMC Hummer EV, which recently started shipping to consumers. The Silverado isn’t expected to go on sale until 2023.

Pricing for the F-150 Lightning, much like the traditional pickup, has a wide range. A work-oriented version of the truck will start at $39,974. More consumer-centric models will start at $52,974 and top out at around $90,000.
 
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