Ford Motor Co.
doubled its objective for manufacturing the brand new electrical model of the F-150 pickup truck, the auto maker stated Tuesday, sending its inventory worth to ranges not seen in additional than twenty years.
Ford stated it now goals to supply 150,000 a 12 months, citing excessive demand for the mannequin. About 200,000 reservations have been positioned for the chance to order one of many vans, the corporate has stated. The primary group of reservation holders will be capable of place orders for the electrical F-150 starting Thursday, Ford stated.
Shares of Ford rose practically 12% Tuesday to $24.31, its highest shut since 2001. The inventory, which has practically tripled over the previous 52 weeks, was the very best performer within the S&P 500.
The corporate has stated the F-150 Lightning could have a beginning worth of $39,974 earlier than potential tax credit. Manufacturing of the electrical pickup is predicted to start this spring.
The F-150 truck is Ford’s top-selling car and certainly one of its most worthwhile. Ford plans to report its 2021 gross sales outcomes on Wednesday.
Different auto makers reported their gross sales figures Tuesday, and
Toyota Motor Corp.
overtook
Basic Motors Co.
because the U.S.’s top-selling automotive firm by annual gross sales.
The electrical F-150 is amongst a number of electric-pickup fashions anticipated to come back out this 12 months. The pickup-truck class looms as an necessary space of rivalry as auto makers race to develop electrical automobiles, prodded by tightening environmental laws and
Tesla Inc.’s
speedy rise.
Rivian Automotive Inc., a startup based mostly in Irvine, Calif., that has seen its valuation soar since its IPO in November, till lately has had the market to itself with its absolutely electrical pickup truck, the R1T, which went on sale within the fall. Basic Motors Co. final month started deliveries of its GMC Hummer pickup.
On Wednesday, GM is scheduled to disclose an electrical model of its Chevrolet Silverado, its top-selling car in North America, throughout a digital keynote deal with by Chief Govt
Mary Barra
at CES, an enormous consumer-electronics conference.
The mannequin is predicted to compete with the F-150 Lightning when it goes on sale, scheduled for 2023.
—Mike Colias
contributed to this text.
Write to Matt Grossman at matt.grossman@wsj.com
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Appeared within the January 5, 2022, print version as ‘Ford Doubles Manufacturing Aim For the F-150 Electrical Pickup.’
