Demand for Ford's electric F-150 Lightning is getting hotter, according to CEO Jim Farley.
"I am happy to report and this is just in, after about a week of orders we have 70,000," Farley revealed during a Wednesday appearance on The Claman Countdown. He noted the automaker wanted this version of the F-150 to "challenge convention" for the line, which is already the nation's best-selling truck.
Ticker Security Last Change Change % F FORD MOTOR CO. 13.91 +1.11 +8.67%
That's about a 57% jump from the last sales update Farley gave, in a Tweet last week, citing 44,500 reservations rolled in.
Reservations for the F-150 Lightning only require a $100 refundable deposit and deliveries aren't scheduled to begin until spring of 2022. The full-size truck has a starting price of $39,974 (not including delivery fees) and qualifies for the full $7,500 federal electric vehicle tax credit. A fully-loaded Platinum trim luxury version is currently listed at an estimated price of $90,474, as previously reported by FOX Business.
Ford joins Tesla, GM, Rivian and Lordstown in the race to dominate electric trucks.
Shares rallied over 8% as the company also updated investors on its long-term strategy with a plan to have 40% of all global vehicle volume be all-electric by 2030. Additionally, it launched a new unit, Ford Pro, which will focus on "high productivity requirements of commercial and government customers."
"We are on a new path, a new plan for the company," Farley stressed.
Shares have gained a whopping 58% this year, blasting the S&P 500's gains of over 11%.
FOX Business' Gary Gastelu contributed to this report.