Ford's F-150 electric truck sales hit 70,000: CEO Jim Farley

Prices for Ford's F-150 Lightning start at $39,974

Demand for Ford's electric F-150 Lightning is getting hotter, according to CEO Jim Farley. 

"I am happy to report and this is just in, after about a week of orders we have 70,000," Farley revealed during a Wednesday appearance on The Claman Countdown. He noted the automaker wanted this version of the F-150 to "challenge convention" for the line, which is already the nation's best-selling truck. 

Ticker Security Last Change Change %
F FORD MOTOR CO. 14.52 -0.25 -1.69%

That's about a 57% jump from the last sales update Farley gave, in a Tweet last week, citing 44,500 reservations rolled in. 

THE FORD F-150 LIGHTNING WAS DESIGNED TO MAKE MONEY

Reservations for the F-150 Lightning only require a $100 refundable deposit and deliveries aren't scheduled to begin until spring of 2022. The full-size truck has a starting price of $39,974 (not including delivery fees) and qualifies for the full $7,500 federal electric vehicle tax credit. A fully-loaded Platinum trim luxury version is currently listed at an estimated price of $90,474, as previously reported by FOX Business. 

FORD’S F-150 LIGHTNING CONTENDS WITH ELECTRIC TRUCKS FROM TESLA, RIVIAN, LORDSTOWN, GMC

Ford joins Tesla, GM, Rivian and Lordstown in the race to dominate electric trucks. 

Ticker Security Last Change Change %
TSLA TESLA, INC. 623.31 +6.71 +1.09%
GM GENERAL MOTORS CO. 58.76 -1.32 -2.20%
RIDE LORDSTOWN MOTORS 10.65 +0.34 +3.30%

Shares rallied over 8% as the company also updated investors on its long-term strategy with a plan to have 40% of all global vehicle volume be all-electric by 2030. Additionally, it launched a new unit, Ford Pro, which will focus on "high productivity requirements of commercial and government customers."

"We are on a new path, a new plan for the company," Farley stressed. 

Shares have gained a whopping 58% this year, blasting the S&P 500's gains of over 11%. 

FOX Business' Gary Gastelu contributed to this report.