Ford Motor Company is reportedly doubling the number of F-150 Lightnings the company will produce. This news comes amid strong pre-launch demand, causing the company to invest further into the program to meet demand.
Citing sources familiar with the plans, Reuters reports Ford will now build 80,000 F-150 Lightnings in 2024. This is a 100-percent increase from the company’s previous plan to build 40,000 units in 2024. The report cites the fact that Ford says it has over 120,000 reservations for the battery-electric truck, which is apparently far exceeding the company’s expectations.
In particular, the sources disclose the company has been pleasantly surprised in demand from commercial customers. This interest and Ford’s intense focus on the commercial market appears to be a significant driver in changing their output plans.
The company is reportedly investing another $850 million to achieve the new production targets. This will allow Ford to build 15,000 units in 2022, 55,000 in 2023 and the 80,000 figure in 2024. Of course, the next-generation F-150 Lightning will launch in 2025 built atop Ford’s new TE1 truck architecture. Ford will reportedly produce 160,000 units of the all-new Lightning at that time.
While this all sounds like good news, some suppliers are reportedly nervous about the move. If F-150 Lightning sales do not net out to meet Ford’s lofty forecast, it could create issues for the truck’s suppliers. It’s also worth noting that an online reservation does not equal a firm vehicle sale; managing the fallout between reservation and transaction will be key to Ford achieving their sales forecasts for F-150 Lightning. The company can also de-risk their plan by inking some large commercial fleet deals, which they may already be doing based on the comments form insiders.