A few weeks ago Ford Motor Company announced that it will soon be investing more in electric vehicles (a total of $30 billion through 2025) than in combustion engine-powered vehicles. This announcement followed reports of more than 120,000 reservations for the fully electric F-150 Lightning, which is set to launch next year at a starting price of $39,974.
Today news hit that Ford is spending an additional $850 million to double its target production of F-150 Lightnings from more than 40,000 per year to more than 80,000 per year by 2024.
The base F-150 Lightning will deliver 426 horsepower through a 4×4 dual-motor configuration and an EPA-estimated 230 miles of range, while an extended range model with 563 horsepower is expected to deliver 300 miles of range. Commercial customers appear to be driving demand, resulting in increased production targets. According to Ford’s analysis of more than 145 million miles of telematics data, 95% of F-150 commercial customers drive less than 174 miles per day.
An available 80-amp Level 2 charger can refuel the F-150 Lightning in about eight hours. If a quick charge is required, the F-150 can be refueled in as few as 41 minutes using a 150kW DC fast charger.
Commenting on the initial burst of reservations, Lisa Drake, Ford’s North American COO, stated that “We’ve been over the moon about the success of the [Mustang] Mach-E and the F-150 Lightning by bringing in over 70 percent new customers to the Ford brand. That gives us an opportunity to not only lead on the ICE business but also in the EV space with F-150. Our aspirations are high. We don’t plan to cede truck leadership to anybody.”
Ford says it’s also developing electric versions of the Explorer and the Lincoln Aviator crossovers. By 2030, Ford expects 40% of the company’s global sales will be electrified.