Ford Motor Company's (NYSE:F) much-awaited F-150 Lightning electric pickup truck has received an EPA range in line with what the company had promised, according to a leaked window sticker, aka Monroney sticker, posted on an internet forum.
What Happened: The Ford F-150 Lightning EV's entry trim, priced at $41,669, has received an estimated Environmental Protection Agency (EPA) range of 230 miles (370 kilometers). The range of an EV is the distance it travels on a single charge. The base model comes with a standard-range battery.
The model armed with an extended-range battery was given an EPA range of 300 miles.
Both ranges are in line with what Ford indicated on its website.
Miles per gallon equivalents (MPGe), a measure of fuel efficiency, was 68 for the standard range model and 66 for the extended range model.
The base trim requires 49 kilowatt-hours of charge for 100 miles and the extended range, priced at $93,874, needs 51 kWh charge per 100 miles.
Related Link: How Much $1,000 Invested In Ford When It Unveiled Ford+ Plan In Mid-2021 Would Be Worth Now
In comparison, the launch edition of Rivian Automotive, Inc.'s (NASDAQ:RIVN) R1T EV pickup truck was given an estimated EPA range of 314 miles and 70 MPGe. The R1T requires 48 kWh per 100 miles.
Why It's Important: Ford leads legacy automakers in transitioning to EVs, and the electric version of its best-selling truck — the F150 Lightning — is vital for Dearborn's EV push.
Ford's CEO Jim Farley said in a CNBC interview in December that the company has paused taking reservations for the EV pickup truck, citing too many reservations.
To cope with the surging demand, Ford said it expects to double the production capacity of the EV truck over the next two years. The installed production capacity is currently at 70,000-80,000 units.
Ford shares closed Thursday's session at $16.58.
Related Link: Ford Has Sights Set On Eventually Toppling Tesla As The No. 1 EV Maker
Photo courtesy of Ford.
