A week after unveiling its all-electric F-150 Lightning truck, Ford said Wednesday, it has already received about 70,000 reservations. The first of the new trucks won't ship until next spring, and reservations aren't firm commitments to buy, just a strong show of interest paired with a $100 refundable deposit. But Ford celebrated the big numbers as a vote of consumer confidence.
The gas-powered F-150 is America's best-selling automobile, so its success or failure is seen as a litmus test for consumer adoption of electric vehicles. Ford said Wednesday that it now expects 40 percent of its global vehicle volume to be electric by 2030 and announced another $8 billion in spending on electrifying its fleet, including developing new batteries, bringing its spending to more than $30 billion by 2025.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
Create an account with the same email registered to your subscription to unlock access.
-
Ukraine's Olympians: going for gold in the line of fireUnder the Radar Hundreds of the country's athletes have died in battle, while those who remain deal with the psychological toll of war and prospect of Russian competitors
-
'Democrats now have a chance to present a vigorous, compelling case'Instant Opinion Opinion, comment and editorials of the day
-
What has Kamala Harris done as vice president?In Depth It's not uncommon for the second-in-command to struggle to prove themselves in a role largely defined by behind-the-scenes work
-
It's not your imagination — restaurant reservations are becoming harder to getIn the Spotlight Bots, scalpers and even credit card companies are making reservations a rare commodity
-
A massive copper shortage is on the horizonUnder the Radar It is estimated that mines will only meet 80% of copper needs by 2030
-
Epoch Times CFO charged with money launderingSpeed Read Weidong "Bill" Guan stands accused of laundering $67 million
-
FDIC chair out after toxic work culture reportSpeed Read The report revealed a trend of sexual harassment and discrimination at the Federal Deposit Insurance Corporation
-
How did Starbucks 'fall from grace'?The Explainer The coffee giant faces lower quarterly sales. Is it the economy, or have the drinks grown stale?
-
How Wall Street and Endless Shrimp may have killed Red LobsterUnder the Radar The company's shrimp deal may have worked a little too well
-
Downtown St. Louis is in a real estate 'doom loop'Under the Radar The city is rife with abandoned buildings and vacant lots, with its real estate market in dire straits
-
How will the FTC's ban on noncompete agreements affect the workforce?The explainer Short answer: Competition will only get fiercer
