Ford (F) F-150 Lightning EV wins MotorTrend's 2023 truck of the year

Ford’s (NYSE: F) F-150 Lightning electric truck was named the 2023 MotorTrend truck of the year on Tuesday, topping traditional pickups with internal combustion engines from General Motors (NYSE: GM), Stellantis (NYSE: STLA) and Toyota Motor (NYSE: TM). The award is sought by automakers globally every year as it is used effectively to promote vehicles in advertising and is viewed as third-party validation of a new vehicle.

MotorTrend's, Scott Evans believes that there's enormous brand loyalty among truck owners and convincing them to switch to an EV is not an easy task. Evans wrote on the MotorTrend site that “the Ford F-150 Lightning successfully bridges the gulf between the powertrain of the future and the pickup of today in a way no other EV truck on the market has accomplished.” Calling the F-150 Lightning “the first and (for now) only electric truck for ‘truck people.’”

The Lightning looks mostly like the traditional new F-150s on the road, and when properly equipped, the Lightning goes slightly farther than the previous winner, the Rivian (NASDAQ: RIVN) R1T, while using a slightly smaller battery. All while having a greater payload capacity as well as a larger and more usable bed and a roomier interior. Best of all, Ford's decision to repurpose the existing F-150 bed for the Lightning means nearly every accessory designed for a gas-powered F-150, be it for work or play, will attach to the Lightning just the same.

Shares of F are down 0.26% in mid-day trading on Tuesday.

By Michael Elkins | [email protected]

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