(Reuters) – Ford Motor has stopped taking reservations for the upcoming F-150 Lightning electric pickup, Chief Executive Jim Farley told CNBC host Jim Cramer on Thursday.
Farley said F-150 Lightning orders were capped at 200,000: “We had to stop taking reservations because we had so many.”
He said Ford originally installed production capacity for 70,000-80,000 Lightnings a year, and now aims to double that over next two years.
“We don’t want to build these vehicles in tents,” Farley joked, in a reference to Tesla CEO Elon Musk‘s decision to expand production several years ago by adding a tent to the company‘s Fremont plant.
“We want to build them at the Rouge” factory near Ford’s headquarters in Dearborn, Michigan.
(Reporting by Paul Lienert in Detroit, Editing by Franklin Paul)