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Breaking News:

OPEC Lifts Production in February

Ford Doubles Production Capacity For Electric F-150 Pickup Truck

While General Motors is in the midst of EV hell, dealing with a massive recall for its Chevy Bolt and shuttering production as a result of the ongoing semi shortage, Ford looks to be "full speed ahead" with plans for its electric F-150 Lightning.

The company's CEO, Jim Farley, said on Thursday that it had reached 150,000 reservations for the forthcoming electric pickup. As a result, the company has ramped up hiring and increasing capacity as it starts building prototypes.

Joe White, global automotive industry editor for ThomsonReuters in Detroit, confirmed on Thursday that Ford would be expanding its F-150 Lightning capacity to 80,000 vehicles.

Ford plans on adding 450 jobs across 3 factories and also announced it would invest $250 million to bump up its production capacity, which was formerly 40,000 vehicles. 

Ford Chair Bill Ford said on Thursday: “We knew the F-150 Lightning was special, but the interest from the public has surpassed our highest expectations and changed the conversation around electric vehicles. So we are doubling down, adding jobs and investment to increase production."

“The reservation number has been growing quite rapidly since we launched it. That’s why we’re increasing capacity and building them as fast as we can,” Farley added.

And make no doubt about it, while other manufacturers falter, Ford's factory appears to be up and humming.

Ford is planning on building about 15,000 of the model next year after its launch, and about 55,000 of the model in 2023, in a ramp up to its 2024 target. 

Ford had already upped its production targets by 50% last November. This increase comes on top of that one.

By Zerohedge.com

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  • George Doolittle on September 21 2021 said:
    The time to get actual product in the hands of consumers and reviewers has long since passed same said be true of Rivian which is over-pricing an unimpressive rollout by an order of magnitude.

    Long US Treasuries
    Strong buy

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