It’s rare enough to see a company’s history span more than a century, but Ford (NYSE: F) is one of the few that can brag on that score. The automaker now has just under 200,000 pre-orders for its newest line of electric pickup, the Ford F150 lightning, and now, it’s doubling down on production capabilities to meet the demand for mid-2022.
Can Ford meet the production requirements?
If there’s anyone that can do it, it’s probably Ford. With over a century of experience in vehicle production, Ford has 25 assembly and production factories in the U.S., and now it’s going on a hiring spree in Michigan in a bid to produce over 600,000 electric vehicles by 2023.
The company’s latest results revealed that in November 2021 alone, it produced over 158,000 vehicles in total. The automaker wasn’t shy about its big win either, claiming it was the only U.S. automaker to post a year-over-year increase for the month.
Ford’s competitive edge
Although it won’t be first to market with its EV pickup — newcomer Rivian can claim that title — if Ford is struggling with production, Rivian is probably in a whole other world of pain, sitting on its one, lonely factory.
Ford has something that some newer EV companies don’t have too; brand familiarity. Ford’s F-Series has been the top seller for 45 years now, so it has a strong connection with its customers that newcomers just can’t match.
It’s likely going to be the same people buying the latest pickup trucks that have bought from Ford for years; the people that know they can trust Ford based on its reliability to date.
To sum it up, Ford isn’t going anywhere any time soon. In fact, it’s very likely we could see it continue its reign as the top dog in the EV pickups game as manufacturers race to the finish line.
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Financial Writer at MyWallSt
David's favorite stock is Google. He's a daily user of its YouTube platform, where you can learn or find something brand new at the touch of a button. He believes the company will continue to grow for many years to come.