Ford Up 8% On Plans To Double Production Of All-Electric F-150 Lightning Trucks

Shares of Ford Motor Company (F) are rising more than 8% Tuesday morning after the company announced its plans to nearly double production of the F-150 Lightning pickup at the Rouge Electric Vehicle Center in Dearborn to 150,000 trucks per year to meet high customer demand.

"With nearly 200,000 reservations, our teams are working hard and creatively to break production constraints to get more F-150 Lightning trucks into the hands of our customers," said Kumar Galhotra, president of The Americas & International Markets Group, Ford Motor Company.

Ford had earlier announced the tripling of production for the Mustang Mach-E and expects to reach 200,000-plus units per year by 2023.

Ford's all-electric van, the 2022 E-Transit, is expected to hit the road early this year.

Ford stock touched a new high of $23.58 this morning.

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