Key takeaways
- Ford has restarted its Michigan plant that produces the electric F-150 Lightning after upgrades.
- The company said the plant can now produce three times as many pickup trucks as ;previously.
- Ford said orders for the Lightning soared after slashing prices by as much as $10,000 last month.
Ford Motor Company (F) said that the The factory that produces its popular F-150 Lightning electric pickup is back up and running and ready to meet growing demand.
Ford had closed its Rouge Electric Vehicle Center in the Michigan for six months for retooling and expansion. He noted that by fall, the factory will be able to manufacture the Lightning at an annual rate of 150,000, triple its previous output.
The company said the increase was necessary because recent price cuts have led to a six-fold increase in customer orders and a tripling of web traffic. Last month, Ford slashed the cost of its lowest-priced Lightning, the Pro, by nearly $10,000, and slashed prices on other models as well, though they stayed at- above 2021 launch prices.
The automaker added that by expanding capacity at the Rouge plant, Ford has the ability to increase the number of trim levels offered in its Lightning lineup, which customers have reported that 39;they wished.
The company also said that& #39;It is accelerating the production of battery packs and power supplies for electric vehicles to match the new production of trucks.
Stocks of Ford Motor Company climbed 1.5% on Tuesday after the news.
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Source: investopedia.com
