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Ford Motor Company (NYSE: F) Quickly Amassed 120,000 Orders for its Tesla Cybertruck Rival and Set to Begin Production on 2022

Ford Motor Company (NYSE: F) is getting to pull the curtain back on its new electric vehicles. However, a lot of interest appears from consumers for Ford’s first-ever electric F-150 dubbed the Lightning. Ford’s CEO Jim Farley said that Ford acquired 120,000 pre-orders for the Lightning. He adds that over 75% of the orders are from people new to the Ford brand. In late May, Ford had over 70,000 orders for the F-150 Lightning.

Jim Farley’s Comments

Farley said that the customers are primarily new to Ford, and they are like these silhouetted vehicles; however, they weren’t new to the segment. Some portray the full-sized truck industry as a kind of conservative customer. It’s not what they’re seeing. He also adds that in the large order for F-150 Lightning, people are new to Battery Electric Vehicle (BEV), and they are excited to move to BEV. Nearly half of them are pickup truck customers. 

Looking into the specializations, F-150 Lightning provides 10,000 pounds of towing capacity with extended range, battery-powered, with air software updates, and the ability to power your home via backup power capability. This variant starts at around $50,000 and will cover a 300-mile range on a charge, and with 563 horsepower, it boosts 0 mph to 60 mph in 4.4 seconds. 

Ford’s Share Values

The production of Ford’s F-150 Lightning is set to begin in mid-2022. However, it’s still unclear when the all-electric Cybertruck will go into production as Elon Musk aims to secure supplies of chips and batteries for its global market sedans. Moreover, in July, Ford shares rose 5% in pre-market trading as investors embraced the pre-orders for the f-150 Lightning and an upcoming hybrid pickup. Also, Ford lifted its full-year adjusted operating profit guidance in between a new car demand by about $3.5 billion to over $10 billion. In addition, the second half of 2021’s sales volumes are rising 30% as Ford expects a better flow of semiconductors shortages for most of the year. 

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