Tesla gets most of the EV headlines and news coverage thanks to their rock star CEO Elon Musk, but an old-school American car manufacturer is quietly cranking out an electric vehicle that they can’t build fast enough.
So because of incredible demand for the Ford F-150 Lightning eclectic pickup truck, Ford is investing $250 million and adding a total of 450 new jobs to boost production of the Lightning to 80,000 trucks a year.
Which would still be jut about half of what they could sell, because there are already 150,000 reservations for the vehicle which starts at $40K, and will go on sale in the spring of 2022.
Here’s what Bill Ford, the Executive Chair of Ford told Fox Business.
“We knew the F-150 Lightning was special, but the interest from the public has surpassed our highest expectations and changed the conversation around electric vehicles. So we are doubling down, adding jobs and investment to increase production.”
It was just last month that U.S. car makers, including Ford, vowed that 40% to 50% of all the vehicles they produce by 2030 will be electric vehicles.
The $250 million is just a fraction of the $29 billion the company will be investing in electric and autonomous vehicles through 2025.
Ford’s stock price has done well this year. It hasn’t ballooned 700% like Tesla, but it is up a very impressive 50% since January.