Ford has officially unveiled what it hopes will be a key vehicle in driving the company’s future: An electric F-150 pickup.

The F-150 Lightning has a similar appearance to the gas-powered version, which has been the best-selling vehicle in America for decades. It’s powered by two electric motors with two battery options. The work version of the Lightning will be priced at about $40,000 and have a range of 230 miles on a single charge. Models more geared for everyday drivers will cost between $53,000 and $90,000 and be able to travel 300 miles.

Chairman Bill Ford calls the introduction of the Lightning as a defining moment in the company’s move toward a zero-emissions future. The carmaker has said all its vehicles will be carbon neutral by 2050. Ford added it expects the new pickup to be profitable once it hits showrooms next year.

Shares of Ford rose more than 4% following the unveiling

• Five female Amazon employees filed discrimination lawsuits against the company Wednesday, Recode reports. The women work in various areas throughout the company, from its fulfillment centers to its HR department. They claim they were retaliated against by white managers after bringing forward complaints of racial discrimination, sexism, or sexual harassment. Three of the women still work at Amazon, and two have left the company. Their cases are all being brought by Wigdor LLP, which has brought other discrimination cases against the e-commerce giant.

·         Federal Reserve officials are signaling a move away from easy money policies executed during the pandemic amid signs of accelerating inflation and an economic recovery. Several Fed officials said that the central bank is closely watching economic developments and will be ready to adjust monetary policy when necessary. Minutes from the central bank’s April policy meeting, released Wednesday, reported that some Fed officials want to begin planning to reduce the Fed’s massive bond-buying program.

·         Ford plans to mount a price war in the next 18 months on its electric pickup rivals by pricing its new F-150 electric pickup at $40,000, dramatically undercutting prices of electric pickups at Tesla and GM. Purchasers of a base-model F-150 Lightning also might qualify for a $7,500 federal tax credit that could significantly reduce the total price for a F-150, Ford’s most popular vehicle. Separately, Ford said it will halt or cut production at eight North American plants for varying periods of time through June due to an ongoing shortage of semiconductor chips impacting the auto industry.

Victoria’s Secret owner L. Brands says consumers are starting to pay full-price for its products again, another sign of recovery in the battered retail sector. L. Brands’ first-quarter total sales rose 80%, beating estimates. Total same-store sales were up 21%. It posted a profit after a loss in the same quarter a year ago.

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