Ford Motor Co (NYSE:F) has started production of its electric E-Transit cargo vans in Kansas City, Missouri, TechCrunch reported on Tuesday, citing a company executive.
What Happened: Deliveries for the electric E-Transit in the U.S. will begin in the coming weeks.
Ford had previously opened reservations for the electric E-Transit in May last year and said the electric commercial van is expected to go on sale early this year.
The E-Transit is expected to go on sale at a targeted price of $43,295.
Why It Matters: The electric E-Transit is key to Ford’s strategy to gain market share in the commercial van category.
The automaker had in September revealed 24,000 reservations for the E-Transit.
Ford is expecting the popularity of its full-size pickup truck F-150 and Transit commercial vans to trickle down to its electric variants as well and help it compete with electric-vehicle market leader Tesla Inc (NASDAQ:TSLA).
Farley had in May this year told investors the automaker plans to electrify its most iconic models and restated plans to launch a commercial self-driving business by 2022.
Price Action: Ford shares closed about 1% higher at $19.6 a share on Tuesday.
Photo: Courtesy of Ford
