Ford is doubling down on its bet on the all-electric Ford-150 Lightning, investing $250 million in its Rouge Electric Vehicle Center, Van Dyke Electric Powertrain Center and Rawsonville Components Plant.
Ford, in a press release Thursday, said the investment will help the company increase production to 80,000 trucks a year.
The company has reported over 150,000 preorders for the electric truck.
In the video above, Jim Cramer couldn't hid his enthusiasm for the F-150. "Ford's never seen this kind of demand for a product," Cramer said.
Recap TheStreet Live: Everything Jim Cramer Is Watching 9/17/21
Ford is a holding in Jim Cramer's Action Alerts PLUS charitable portfolio.