Ford Motor Company f The 2022-model F-150 Lightning pickup truck won the “2023 MotorTrends Truck of the Year” award, beating out traditional offerings from the likes. General Motors Corporation GM, Toyota Motor Corporation TM And Stellantis NV STLA.
What happened: Dearborn, Michigan-based Ford said the F-150 Lightning is the first electric vehicle truck to win the award in a unanimous vote among judges and only the second time in Motortrend’s “Of the Year” history that an EV has won unanimously in a category. competition
The F-150 Lightning is “the first EV pickup truck that will appeal directly to the existing truck market,” MotorTrend said in a statement.
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Although first-time buyers may be attracted Rivian Automotive, Inc RIVN R1T pickup truck, only a very small segment of the traditional pickup truck market will be interested in making the switch, it added.
That was in line with a data point shared by Ford, which said its EV business was growing at a more than 60% win rate.
Why it matters: The F-150 Lightning EV truck is an important cog in the wheel of Ford’s EV transition. Ford said it expects to deliver 150,000 units per unit by the end of 2023.
“The Ford F-150 Lightning is nothing less than a milestone achievement in the history of American mobility,” said Ed Lowe, Editorial Head of Motortrend Group.
Ford rose 2.17% to $13.82, according to Benzinga Pro Data.
Read Next: After the success of F-150 Lightning, Ford may launch EV versions of these models