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Benzinga
Benzinga
Business
Rachit Vats

Ford CEO Jim Farley Teases F-150 Lightning EV As Launch Set For April 26

Ford Motor Co (NYSE:F) CEO Jim Farley on Wednesday teased the launch date for its hotly-anticipated F-150 Lightning electric truck to be held on April 26. 

What Happened: "It's time. #F150 Lightning," Farley tweeted to reveal the launch date of the electric version of its best-selling pickup, along with an online invite that says “F-150 Lightning strikes" later this month.

Ford said the launch will be a live webcast from its Rouge Electric Vehicle Center in Dearborn, where the electric truck is assembled. The legacy automaker did not reveal more details of the highly anticipated event.  

See Also: Ford Says Nearing 200,000 F-150 Lightning Reservations, Order Bank Opening Soon

Why It Matters: Dearborn, Michigan-based Ford said earlier this year it would nearly double the production capacity of the all-electric F-150 Lightning pickups to 150,000 vehicles per year at the Rouge plant to meet growing demand.

The automaker has nearly 200,000 reservations, excluding fleet reservations.

F-150 Lightning is Ford’s first big move towards electrification after it launched the Mustang Mach-E in December 2020.

The EV pickup will go on sale at a ticket price of $39,974 and more for the base model, and a range of 230 miles for the standard version.

Ford has previously said it will double electric vehicle production to 600,000 units by 2023. The company is spending more than $30 billion on electric vehicles through 2025 as it aims to grab the No. 2 spot in the sector in North America.

Price Action: Ford stock closed 0.98% higher at $15.5 a share on Wednesday.

Photo courtesy: Ford 

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