Science & Technology

Ford Is Again Hiking Its Production Targets For Its F-150 Lightning

Ford doubles F-150 Lightning production target on strong pre-launch demand, sources says...

By Tyler Durden | Zero Hedge

While GM is dealing with nothing short of a total disaster with its Chevy Bolt and Tesla is focused on humanoid robots, Ford has been quietly garnering significant interest in its electric F-150 lightning.

In fact, interest has risen so much that Ford has doubled its production target for the vehicle ahead of its launch, which is supposed to be in 2022, according to Reuters. Ford is doling out $850 million to help it meet its launch target.

The company is going to attempt annual production of more than 80,000 vehicles in 2024, the report says, double its previous target of more than 40,000.

One source told Reuters: “They were pleasantly surprised by the demand for the Lightning.”

While Ford’s commercial customers were expected to push toward the shift to EVs, the company was uncertain as to whether or not individual customers would abandon their gas powered pickups for electric powered ones.

“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,” the company said in a statement.

Ford is planning on building about 15,000 of the model next year after its launch, and about 55,000 of the model in 2023, in a ramp up to its 2024 target.

Ford had already upped its production targets by 50% last November. This increase comes on top of that one.

Some, on Ford’s supply chain, are worried about whether or not the demand will truly meet Ford’s expectations. “It really puts suppliers in a dicey situation if the volume doesn’t come true,” one supplier told Reuters.

But hey, there’s only one way to find out…

This article (Ford Is Again Hiking Its Production Targets For Its F-150 Lightning) was originally published on Zero Hedge and is published under a Creative Commons license.

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