Lightning Crashes? Ford cuts prices as production ramps
Ford says production more efficient, less expensive
Ford has just announced a massive cut to the prices of the F-150 Lightning electric pickup. The automaker credits lower raw materials prices as well as increased efficiency for the cuts that total up to $15,000 on some grades.
An announcement from Ford today said that the Rouge Electric Vehicle Center, the Michigan home of the Ford F-150 Lightning, is currently closed. It’s temporary, though, as the automaker finishes up the upgrades that will bring annual production of the truck from around 50,000 to 150,000.
Combined with falling costs for the raw materials used in EV battery packs, improvements on scale that go with the higher rate of production, and other efficiencies, Ford can lower prices.
The work truck Pro model of the F-150 Lightning drops $15,000 to $59,000. 386 km XLT Standard Range and 515 km XLT Extended range both see a price cut of $10,000. This brings the pickups down to $69,000 and $85,000 respectively. A Lariat Standard Range falls $10,000 to $80,000. At the top of the range, Lariat Extended Range drops $9,000 to $99,600 and a 483 km Platinum Extended Range sees a price cut of $6,000.
“Shortly after launching the F-150 Lightning, rapidly rising material costs, supply constraints and other factors drove up the cost of the EV truck for Ford and our customers,” said Marin Gjaja, chief customer officer, Ford Model e. “We’ve continued to work in the background to improve accessibility and affordability to help to lower prices for our customers and shorten the wait times for their new F-150 Lightning.”
Ford says customers will now have greater availability of built-to-order trucks as early as November.