Ford stock has surged to its highest value in 20 years, passing both Rivian and GM with its strong electric vehicle lineup. While Tesla draws the most attention for its electric vehicles, the number of competitors has expanded greatly. Ford has made a big showing with its fully electric Mustang Mach-E and the imminent launch of its highly anticipated F-150 Lightning electric pickup, E-Transit delivery truck, and several low-cost hybrid vehicles.

Ford is one of the oldest car manufacturers in the world and the first to set up an assembly line for mass production. This advancement led to the rapid adoption of the motor vehicle as a preferred method of travel in the United States, while selling millions of the iconic Ford Model T. Fossil fuels were the way the world ran in those early days, however, it seems the era of the electric vehicle has arrived and Ford has taken note.

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Having collected nearly 200,000 reservations for the F-150 Lightning, Ford is winning the electric pickup race before it has even really begun. Ford is increasing capacity to 150,000 to keep up with this strong demand, according to a recent report from Bloomberg. At present, Ford is delivering only one fully electric vehicle to consumers, the Mustang Mach-E, however, the F-150 Lightning will roll off the assembly lines later this year. Two new hybrids are coming and Ford's E-Transit delivery truck has been delivered to a few businesses already.

Ford's Winning The Electric Truck Race

Ford F-150 Lightning Frunk And Phone App

Ford's 200,000 preorders are incredibly impressive given that Rivian reported combined preorders of only 71,000 for its R1T pickup and R1S SUV on December 15, 2021. Pricing has an impact but the brand strength of Ford is a significant factor as well. Meanwhile, GM has been producing electric cars for longer than Ford and is another well-established American brand, however, its first electric truck targeted the high-end market with the Hummer EV which is in the $100,000 range.

Tesla's CyberTruck has been delayed and Rivian's production rate is currently quite slow. The Ford F-150 Lightning starts at about $40,000, making this a surprisingly affordable electric vehicle and one of the few pickups that's expected to arrive in significant volume in 2022. The strong demand for electric trucks might spur Ford to accelerate its transition to fully electric. There have been rumors of an electric Ford Bronco and it wouldn't be surprising to see such a vehicle soon since it would fill a gap in the current EV market.

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Source: Bloomberg