Ford Motor Co. has increased its production target for F-150 Lightning due to strong demand ahead of the truck’s 2022 launch. According to a report, Ford plans to invest an additional $850 million to reach that target.
The automaker plans to produce more than 80,000 units per year by 2024. This is an increase on its previous goal of more than 40,000.
Industry observers have questioned whether individual buyers will give up their gas-powered pickups for electric models, but commercial customers are pushing for electric trucks and vans to reduce their carbon footprints.
According to a second person, the incline to the new production target will include plans to build approximately 15,000 electric trucks next year following the spring launch of the truck and 55,000 by 2023. The annual target for the Lightning 2 will be just shy 160,000.
The report said that sources claim that this increase is on top of the Ford 50 Percent boost in November.
Sources stated that the strong pre-launch demand from commercial customers is what drives the more optimistic targets, the report added.
Ford’s electric strategy focuses on building upon its most successful brands. Ford’s electric strategy is focused on building upon its strongest brands.
General Motors Inc., Tesla Inc., are two other automakers who have plans to introduce electric pickups.