Ford Motor Co. has doubled its goal for manufacturing its new electric version of the F-150 pickup truck, targeting 150,000 a year, the auto maker said Tuesday, sending its shares higher.

Ford said the increased production plans reflect high demand for the model. About 200,000 reservations have been placed for the opportunity to order one of the trucks, the company has said. The first group of reservation holders will be able to place orders for the electric F-150 beginning Thursday, Ford said.