9/16, 5:57 PM (Source: TeleTrader)
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Ford boosts production capacity for electric F-150

Ford Motor Co. announced plans on Thursday to invest an extra $250 million and open 450 new jobs across its Michigan factories to boost annual production capacity for the electric F-150 Lightning pickup truck.

More than 150,000 cars have been reserved in advance since the Lightning's debut in May. Investors and industry analysts are closely monitoring production and orders of Ford's iconic pick-up as a general indicator of consumer acceptance of electric vehicles.

Ford Chairman Bill Ford remarked that "the interest from the public has surpassed our highest expectations... so we are doubling down, adding jobs and investment to increase production."

Breaking the News / IB