Ford Motor has made an exciting announcement, slashing the prices of its highly popular electric F-150 Lightning pickup trucks. The move comes as a result of Ford’s efforts to boost production and lower costs for battery minerals. Prices for some versions of the Lightning will drop by nearly $10,000, while all versions, including the top-of-the-line Platinum trim, will see a reduction of at least $6,000 compared to March levels.
Price Table for Ford F-150 Lightning Pickups:
|Trim Level||Previous Price||New Price||Price Reduction|
|XLT (Various trims)||$59,974 – $58,495||$50,495 – $49,015||$8,479 – $9,479|
Ford had previously raised prices due to supply constraints and higher battery mineral costs. However, the company has been working to increase production and optimize manufacturing processes. The Dearborn, Michigan factory responsible for manufacturing the Lightning will undergo upgrades to triple its output, resulting in a temporary closure.
CEO Jim Farley has prioritized increasing production of the Lightning and other Ford EVs. Despite challenges, such as a fire incident leading to a five-week production halt, Ford remains committed to meeting the surging demand for electric pickups.
The price cuts reflect Ford’s dedication to accessibility and affordability. Ford joins the electric vehicle price war initiated by Tesla, aiming to attract more customers and address slowing sales. Commodity prices for battery raw materials, including cobalt and lithium, have declined, with further drops expected in the second half of the year.
To strengthen sourcing options, Ford secured new supply deals for battery-grade lithium. These moves align with Ford’s goal to produce 2 million EVs by 2026.
The price reductions apply to all Lightning variants. The base Pro variant now starts at $49,995, down from $59,974, while the high-end Platinum model costs approximately $91,995, a reduction of 6.2%.
As the EV market intensifies, with competitors like GM, Chevrolet, Stellantis, Tesla, and Rivian, Ford’s price cuts position it as a strong contender. Ford’s commitment to innovation, affordability, and customer satisfaction shapes a sustainable future in the automotive industry.