Ford Motor said on Thursday it has started production of the new generation F-150 pickup truck at its Dearborn, Michigan, plant, and expects the renovated model to go on sale in November.
The new F-150 launch is “on time and on track,” Ford’s incoming CEO Jim Farley said during an event Thursday at Ford’s Dearborn Truck plant.
Ford shares increased 2.3% in early trading.
The F-150 is Ford’s top-selling vehicle and, together with other large pickups and commercial vans, generates the bulk of the automaker’s global profit.
The automaker 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 approximately half that of the current gasoline-powered model. It will include a large front trunk in place of an engine as well.