🧵 1/ Ford reopens production of F-150 Lightning after upgrades, following six-week break. Recent price cuts led to a sixfold increase in demand. #business
🧵 1/ Ford reopens production of F-150 Lightning after upgrades, following six-week break. Recent price cuts led to a sixfold increase in demand. #business
🧵 2/ The Lightning's prices were reduced by up to $10k, with the cheapest version now starting at $50k. Ford has around 45 days' worth of orders for the electric truck.
🧵 3/ Over half of the new orders are for the higher-priced XLT trim, starting at $55k with 240 miles of range. Ford is adjusting production to increase supplies of the Lightning XLT.
🧵 4/ Production downtime will affect Lightning deliveries until September, but sales are projected to significantly increase in late September and October as supply ramps up.
🧵 5/ With upgrades, the Rouge Electric Vehicle Center in Michigan can produce Lightnings at a rate of 150k vehicles per year by the end of September. New employees have been hired to support production.
🧵 Read more at: https://www.cnbc.com/2023/08/01/ford-restarts-f-150-lightning-production-amid-heightened-demand.html