Shares of Sunrun (RUN) - Get Sunrun Inc. Report jumped Thursday after the rooftop-solar company became the home charging and integration systems provider for Ford Motor's (F) - Get Ford Motor Company Report electric pickup truck, the F-150 Lightning.
At last check, shares of the San Francisco company rose 4.9% to $43.94. The stock was down 40% in 2021 through the close of Wednesday trading. Shares of auto icon Ford rose 2.1% to $12.36.
Ford is scheduled to begin deliveries of the F-150 Lightning in mid-2022
Through the partnership, customers will be able to install solar-and-battery systems at their homes. The move enables them to power their households and charge their F-150 Lightning trucks with the power of the sun.
The partnership can "bring energy resilience to millions of Americans across the country," said Lynn Jurich, co-founder and chief executive at Sunrun.
Sunrun will facilitate installation of the 80-amp Ford Charge Station Pro and home-integration system, the company said.
The Dearborn, Mich., automaker unveiled the all-electric pickup on Wednesday. Priced below $40,000, it is at the forefront of the company’s $22 billion global electric vehicle plan.
The base price of the pickup truck drops to about $32,500 with a federal tax credit of up to $7,500 still available on Ford electric vehicles, according to the Associated Press.
The lowest-priced gasoline-powered F-150 with a crew cab starts at roughly $37,000.
The vehicle got some prerelease publicity when President Joe Biden visited Ford's test track on Tuesday and took the truck for a spin, declaring, "This sucker’s quick!"