Ford Targeting 600,000 EV Capacity Over the Next 22 Months, Says CEO

Photo: Yahoo Finance

With Ford’s F-150 Lightning seeing high levels of demand alongside a new electric van from the automaker, the company’s leader is expressing high production targets for the two electric vehicles (EVs).

Ford CEO Jim Farley says the company is targeting 600,000 production units of the E-Transit electric van and the F-150 Lightning over the next 22 months, citing extremely high demand for its vehicles, according to Yahoo Finance.

The E-Transit vans are set to start delivering in the coming months, offering up to 126 miles per charge.

Ford also launched a pilot program on Wednesday to offer E-Transit vans and F-150 Lightning units to Sonoma County Winegrowers, an organization of over 1,800 grape farmers.

In an interview, Farley “We have over 10,000 orders already from a lot of different customers [for the E-Transit]. I think we just got over 1,000 orders from Walmart. So, the demand is very high.” Farley continued, “The E-Transit is strategically very important for the company because of our dominant position.”

There’s close to 200,000 reservations for the F-150 Lightning electric pickup truck, with Farley noting “very few of them are falling out,” now that the company is converting orders into where people have to actually order the vehicle. Ford halted F-150 Lightning reservations last month to allow it time to increase manufacturing capacity.

Earlier this month, Ford doubled its F-150 Lightning production for a second time to a target of 150,000 trucks per year.

Ford has also been struggling with dealerships raising customer payments on the F-150 Lightning, for which the company also released a memo asking dealerships to stop earlier this month.