Sunrun Shares Rise On Ford F-150 Lightning Partnership: What Investors Should Know

One of the features unveiled for the upcoming all-electric Ford Motor Company (NYSE: F) F-150 Lightning was a home backup energy source. Ford is partnering with a leader in the home solar energy market on the project.

What Happened: The Ford F-150 Lightning offers its owners the ability to have a reliable home backup energy source by dispatching power to the home during a power outage.

Ford partnered with Sunrun (NASDAQ: RUN), the nation’s leading home solar, battery storage and energy services provider, to be the preferred installer for the Ford Intelligent Backup Plan.

Customers can install a solar and battery system on their home that can offer “clean, affordable energy and charge their F-150 Lightning with the power of the sun.”

Related Link: Ford Unveils F-150 Lighting Priced Below $40,000, Elon Musk Congratulates Company For Embracing An Electric Future

Why It’s Important: The F-150 is the bestselling truck in America but faces some new competition in the electric vehicle industry. Having offerings such as the partnership with Sunrun could help differentiate it and compete better with rivals in the industry.

Customers will also be given the option to install solar energy in their homes with partner Sunrun.

“We’re at the beginning stages of a partnership that can bring energy resilience to millions of Americans across the country,” Sunrun CEO Lynn Jurich said.

A tweet by Sunrun calls the news a “game changer” to have the partnership with Ford.

Customers can reserve the Ford F-150 Lightning now with deliveries expected in mid-2022.

Price Action at publication: Sunrun shares are up 4.73% to $43.88 on Thursday.

Ford shares are up 2.31% to $12.39 on Thursday.

Disclosure: Author is long shares of F.

(Photo: Ford)