Ford To Double Efforts After Strong Demand For Ford F-150 Lightning
Automotive industry observers know nothing. At best they make guestimates based on extrapolated data sets. It’s probably best to rely on gut instincts. Ford has probably relied on a mixture of both for the F-150 Lighting EV pickup truck because it will double the original production target. Ford initially earmarked 40,000 F-150 Lighting sales, however, it will now ramp up production to 80,000 units due to demand when it launches in 2022. However, the F-150 Lighting success can not match the success of the gas-guzzling F-150 which accounts for over 900,000 annual sales. Ford eventually expects F-150 Lightning’s annual production to reach around 160K units per year by 2025.
According to Ford 120,000 reservations have already been made online. The F-150 is the top-selling vehicle in America and has been for over four decades. Ford’s EV strategy spend will increase to $30Billion by 2030 helped by a possible $174BN federal auto investment fund to assist US car manufacturers in the great switch to a fully EV powertrain future. In the meantime, Ford will spend $850M on further developing the F-150 Lighting through to 2025.
However, Ford has strong competition from the likes of the Rivian Pickup, and Tesla’s Cybertruck. Production of the highly anticipated Cybertruck has been postponed to 2022. Over 1 million people have registered and paid $100 to get on the Cybertruck waiting list. Both the Ford F-150 Lightning and Cybertruck have a suggested retail price starting at $40,000.