Ford to boost hiring to double production of all-electric F-150

Ford Motor said it is boosting hiring to increase production capacity of its electric vehicle, F-150 Lightning pickup.

The company is planning to invest an additional $250 million and add 450 jobs to double the annual production, Ford said on Thursday. The automaker now aims to build 80,000 units annually, up from 40,000 vehicles a year ago.

Ford has invested about $950 million in production of F-150—starting at about $40,000—and a hybrid version of the truck.

Ford said that more than 150,000 reservations have been made for the vehicle, which is scheduled to go on sale next spring, since its debut in May. This is an increase from 120,000 at the end of July.

Analysts and investors are observing the reservations for F-150 Lightning as a measure for consumer acceptance of electric vehicles.

Kumar Galhotra, Ford’s president of the Americas and international markets, said during the second year of production, i.e. 2023, the company expects to touch 80,000 annual production mark.

“The reservation number has been growing quite rapidly since we launched it,” he told reporters Thursday at the Rouge plant, in Dearborn, Michigan. “That’s why we’re increasing capacity and building them as fast as we can.”

(With inputs from CNBC)

Picture Credits: CNBC