Ford says it has racked up 20,000 F-150 Lightning reservations hours after the electric pickup’s debut

(EMBARGO 5/19 9:30PM DNP) Ford F-150 Lightning
It’s not yet known how many of those reservations will convert into actual sales. Ford
  • Ford has 20,000 reservations for its F-150 Lightning electric pickup, CEO Jim Farley told CNBC.
  • The pickup made its debut during an event on Wednesday night.
  • It starts below $40,000, making it cheaper than some other upcoming battery-electric trucks.
  • See more stories on Insider’s business page.

Ford has raked in more than 20,000 reservations for its new F-150 Lightning electric pickup truck less than 12 hours after revealing it, Ford CEO Jim Farley told CNBC on Thursday.

Reservations only require a $100 refundable deposit, so it’s not known how they will translate into actual deliveries. But it’s not surprising that an electric version the most popular truck in the US already has so many interested buyers.

Ford revealed the truck on Wednesday evening during an event that was livestreamed from its Dearborn, Michigan, headquarters. And the pickup has a lot going for it.

It starts at the low price of $39,974 for a basic work truck that promises 370km of range. That’s roughly in line with what Tesla says its Cybertruck will cost, and it’s considerably less than what some of the other highly anticipated electric pickup trucks coming to market (like GMC’s Hummer EV and Rivian’s R1T) will cost.

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An extended-range version that delivers a claimed 483km of range is also available, as are higher-end trims and options that can bump the truck’s price to $90,000.

Plus, the F-150 Lightning boasts plenty of power for people looking to use it for actual truck stuff. The extended-range model has the most horsepower of any current F-150, and Ford says all models will put out 352kg-ft of torque, more than any F-150 in history.

Reservation holders won’t see their F-150 Lightning until spring 2022 when the truck is set to go on sale. It’ll be manufactured at Ford’s new Rouge Electric Vehicle Center, which is still being outfitted for production.