It's a great time to be a Ford shareholder right now! The stock has reached a 21-year high following the news that Ford will double Lightning production!

Shares of Ford Motor Co. F, 9.14% jumped 1.8% toward a 21-year high in premarket trading Tuesday, after the auto maker said it plans to nearly double production of its all-electric F-150 Lightning pickups at its Dearborn, Michigan facility to 150,000 trucks per year to meet "soaring customer demand." The company said production of the 2022 F-150 Lightning will begin in the spring. On Thursday, Ford said the first wave of reservation holders for the Lightning will begin converting their reservations to orders, and will be invited to place their order over the next few months. "With nearly 200,000 reservations, our teams are working hard and creatively to break production constraints to get more F-150 Lightning trucks into the hands of our customers," said Kumar Galhotra, president of The Americas & International Markets Group. Separately, Ford said it will triple production for the Mustang Mach-E, with expectations to reach more than 200,000 units per year by 2023. The stock, which is on track to open at the highest price seen during regular-session hours since August 2001, has run up 51.7% over the past three months, while rival General Motors Co.'s stock GM, 4.87% has advanced 13.3% and the S&P 500 SPX, -0.03% has gained 11.5%.