Ford Motor Co. will begin selling an all-electric version of its top-selling F-150 pickup by mid-2022, the company announced Thursday.
Ford said it plans to spend $700 million to build out its oldest and biggest factory and hire 300 new workers to build the trucks. It also plans to sell a plug-in gas-electric hybrid version. The dual-motor electric F-150 will boast more horsepower and torque and the fastest acceleration of any F-150 currently on the market, and Ford says customers will save “more than 40%” over the maintenance costs for a gasoline-engined Ford pickup.
The Ford F-Series pickup line has been America’s best selling car for years. In 2019, Ford sold 896,526 F-Series pickup trucks (more than 1.7 trucks per minute), bringing in $42 billion in U.S. revenue — more than entire companies including McDonald’s, Nike and Netflix.