Hyperdrive
Ford Surges to 20-Year High on Optimism Over Electric F-150
- Demand for electric cars ‘is certainly there,’ executive says
- Manufacturer to start taking orders for plug-in F-150 Jan. 6
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Ford Motor Co. stock surged to a 20-year high after doubling factory capacity for its battery-powered F-150 Lightning pickup -- a sign of its optimism that electric vehicles could grow to 10% of the U.S. market this year.
The carmaker said Tuesday it’s capitalizing on soaring demand by raising F-150 Lightning capacity to 150,000 trucks a year. Ford plans to start taking orders on Jan. 6 for the model going on sale this spring. It’s the second time Ford has doubled production of the plug-in pickup that received nearly 200,000 nonbinding reservations.