Ford's 160,000 Reservations Number For F-150 Lightning Doesn't Include Fleet Orders

Ford Motor Co’s (NYSE: F) highly-anticipated electric truck F-150 Lightning has 160,000 bookings but those orders don't include fleet buyers, the company told Electrek.

What Happened: The base model of the Ford’s F-150 Lightning is expected to draw more commercial and fleet customers than the more expensive variants.
The revelation means that customers are likely looking at longer wait times than previously anticipated, Electrek noted.

The electric version of Ford’s most profitable and popular pickup truck would will go on sale in May at a ticket price of $39,974 and up for the base model and a range of 230 miles for the standard range.

For perspective, the F-150 alone contributed over 27% of Ford’s total production numbers of 201,353 units in the month of October, as per the company data.

The Dearborn, Michigan-based automaker is aiming to ramp up production for the F-150 Lightning electric truck and build 15,000 F-150s next year after the truck's spring launch, 55,000 in 2023 and eventually reach the 80,000 mark in 2024.

See Also: Ford CEO Jim Farley Says Automaker Will Double EV Production By 2023, Aims To Become Largest Electric Player Soon

Why It Matters: Ford is expecting the popularity of its most-sold and the most-profitable full size pickup truck F-150 to trickle down to its electric variant as well. 

Ford CEO Jim Farley last week said the automaker will double electric vehicle production to 600,000 units by 2023 due to higher demand and said it aims the automaker to become the biggest electric vehicle maker in the world.

Farley in May this year told investors the automaker plans to electrify its most iconic models and reconfirmed the plans to launch a commercial self-driving business by 2022. 

F-150 Lightning will be Ford’s second fully electric model on sale after Mustang Mach-E.

Price Action: Ford stock closed 0.87% lower at $19.39 a share on Friday.

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Photo: Courtesy of Ford