South Africa

US sales of new Ford F-150 to start in November

US sales of new Ford F-150 to start in November

Ford Motor Co said on Thursday it has begun production of the new generation F-150 pickup truck at its facility in Dearborn, Michigan. It expects the redesigned model to go on sale in November.

The new F-150 launch is “on time and on track,” Ford's incoming chief executive Jim Farley said during an event Thursday at Ford’s Dearborn truck plant.

Ford shares were up 2.3% in early trading.

The F-150 is Ford's top-selling vehicle. Along with other large pickups and commercial vans, it generates the bulk of the company's global profit.

Ford also confirmed plans to build an electric version of the F-150, which is expected to come to market by mid-2022.

Ford executives said the battery-electric version of the top-selling truck will have a lifetime total cost of ownership that is roughly half that of the current petrol-powered model. It also will include a large front trunk in place of an engine.