Ford Ups EV Investment

Ford said it’s increasing production of its popular electric models as it works toward an all-electric future.

The Dearborn, Mich.-based carmaker said it accelerated production of its Mustang Mach-E, nearly doubling hourly production and planning to reach annual average production of 210,000 by the end of the year.

It said the model helped it become the second biggest selling EV seller in the U.S. last year, and that more than two-thirds of Mach-E buyers moved to Ford from other makes.

Meanwhile, production on the F-150 Lightning truck is scheduled to triple this year with a $2 billion investment across three plants, Ford said. It’s aiming for an annual production rate of 150,000 on the model, which it said is the best-selling electric truck in the U.S.;15,617 Lightnings sold last year.

It will also invest $95 million to increase production at a plant that makes both the Transit and E-Transit vans.

Ford has split its operations between electric and internal combustion engine models and has said half of its worldwide sales will be EVs by 2030.

LEARN MORE: First-Time EV Buyers Increasing, Study Finds

Originally posted on Auto Dealer Today