Ford Motor Company has officially presented an electric version of its best-selling F-150 pickup truck. The company showed off its new model, the F-150 Lightning, during an event this week. In announcing the vehicle, Ford chief Jim Farley said it represented “a watershed moment” for the company. He added, it also marked “a very important transition” for the automobile industry. Experts say that with its new vehicle, Ford is aiming to be highly competitive with other companies in the electric truck market, notably Tesla and General Motors (GM). The Lightning seems to offer buyers new technology in a popular, proven vehicle that is also good for the environment and saves on fuel costs. The trucks are to be manufactured at a production center in Dearborn, Michigan beginning next year. Ford said it was investing $700 million into the production complex and was adding 500 new jobs. It plans to start selling the vehicles in the spring of 2022. With a starting price near $40,000, the F-150 Lightning will be available in four different versions. The base model will have a traveling range of 370 kilometers on one battery charge. Ford says the size of the cab and bed of the electric vehicle will be the same as its gas-powered F-150. And with a federal tax credit of up to $7,500 available for Ford electric vehicles, the price of the base model falls to around $32,500. That is below the lowest-priced gas model of the F-150, which starts at $37,000. The company says the high-end Lightning which is equipped with a longer-range battery can pull an estimated 4,500 kilograms. This is comparable to many gas-powered trucks, but it falls about 1,350 kilograms short of Ford’s powerful V-8 engines. The F-150 Lightning comes with a 39 centimeter, electronic control screen and extra storage space where the gas engine would be. Ford says the Lightning with the extended-range battery can fully power a home for up to three days. The high-end truck will likely cost between $60,000 to $90,000.