Ford Caps F-150 Lightning Orders At 200,000: CEO Farley

Ford Motor has stopped taking reservations for the upcoming F-150 Lightning electric pickup, Chief Executive Jim Farley told CNBC host Jim Cramer on Thursday.

Farley said F-150 Lightning orders were capped at 200,000: "We had to stop taking reservations because we had so many."

He said Ford originally installed production capacity for 70,000-80,000 Lightnings a year, and now aims to double that over next two years.

"We don't want to build these vehicles in tents," Farley joked, in a reference to Tesla CEO Elon Musk's decision to expand production several years ago by adding a tent to the company's Fremont plant.

"We want to build them at the Rouge" factory near Ford's headquarters in Dearborn, Michigan.