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Tuesday, 24 August 2021 18:54

Ford Doubles F-150 Lightning Production Target to More than 80K Annually for 2024

Written by Simon Alvarez, Teslarati
Ford Doubles F-150 Lightning Production Target to More than 80K Annually for 2024 Ford

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Ford has doubled the production target for the F-150 Lightning to more than 80,000 vehicles annually in 2024.

This is in no small part due to the demand for the all-electric pickup truck, which has received about 120,000 customer reservations since its unveiling earlier this year. 

 

To accomplish this target, Ford is looking to spend an additional $850 million to meet its updated production target, according to individuals and suppliers familiar with the automaker’s plans.

 

Prior to its revised target, Ford was looking to produce more than 40,000 F-150 Lightnings in 2024. “They were pleasantly surprised by the demand for the Lightning,” one of the sources noted in a statement to Reuters

 

The apparent demand for the Ford F-150 Lightning bodes well for the electric vehicle revolution as a whole. Industry observers, after all, have questioned if pickup truck buyers would be willing to give up their internal combustion-powered trucks in favor of electric vehicles. This has resulted in reservation numbers for vehicles like the Tesla Cybertruck---estimated to have breached the 1 million mark---to be generally dismissed.
 
Yet Ford noted the demand for the Lightning, particularly its commercial variant, has been quite encouraging. This is quite unsurprising since the Lightning’s commercial variant is priced aggressively, and its low operating costs would likely result in notable savings for businesses that opt to buy them. This would likely be especially true for the Lightning’s maintenance, which would be lower than conventional F-150s.

 

“We are excited with customer demand for the F-150 Lightning and already have 120,000 customer reservations, and we will continue to look for ways to break constraints and meet customer demand,” Ford said in a statement. 

 

With its updated production plans, Ford now intends to build 15,000 F-150 Lightnings in 2022. This number is expected to increase to 55,000 annually in 2023, before ramping to...


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