Ford reports 70,000 reservations for its newly unveiled all-electric F-150 truck

(Image credit: Jeff Kowalsky/AFP/Getty Images)

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.

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Peter has worked as a news and culture writer and editor at The Week since the site's launch in 2008. He covers politics, world affairs, religion and cultural currents. His journalism career began as a copy editor at a financial newswire and has included editorial positions at The New York Times Magazine, Facts on File, and Oregon State University.