This increase in Lightning production coincides with Tesla’s expansion of its electric pickup truck, the Cybertruck, and General Motors’ gradual launch of its Silverado electric pickup, a direct competitor to the Lightning. Rivian, a startup, is also accelerating deliveries of its electric pickups.
To stimulate demand, Ford now allows individual retail customers to order the F-150 Lightning Pro, which is the least expensive version of the truck priced at $49,995. Half of the new orders for the Lightning are for the XLT model, which is the middle variant starting at $54,995. Ford plans to focus its sales efforts on attracting more traditional customers who are part of the early majority. However, challenges remain in terms of customer awareness and acceptance of electric vehicles among mainstream buyers.
Last week, Ford projected that its electric vehicle operations will incur a $4.5 billion loss this year, which is 50% higher than previously estimated. Despite this, Chief Executive Jim Farley confirmed plans to triple the production pace of the Lightning to 150,000 vehicles annually by the end of this year.