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Ford Constructing Factory For All-Electric F-150: Report

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Ford Constructing Factory For All-Electric F-150: Report

Legacy automakers are getting closer to releasing some appealing new electric vehicles. 

Ford Motor Company (NYSE: F) is working to release the Mustang Mach E next year, and General Motors Company (NYSE: GM) has been teasing the all-electric GMC Hummer EV.

Now it appears that Ford's next electric vehicle, a Ford F-150, will start production soon.

Ford will temporarily shut down a factory to make upgrades for the redesigned gas-powered F-150, according to a Monday Bloomberg report

Ford is constructing a new facility near to its Dearborn, Michigan truck plant to build an electric F-150, the report said, citing unnammed people familiar with the project. The same source said prototype production will begin next year. The new factory is expected to employee 300 new workers. 

Benzinga's Take: It will be interesting to see if Ford can release this truck in a timely manner to compete with Tesla Inc's (NASDAQ: TSLA) Cybertruck and Rivian's all-electric pickup.

Tesla and Rivian both have many preorders, showing high interest in a capable electric pickup. If Ford can use its succesful F-150 branding, its electric pickup could retain customers.  

Photo courtesy of Ford.

 

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