Ford’s electric F-150 just got cheaper

Ford has whacked the price of the F-150 Lightning electric truck. While the decision may be a response to Tesla price cuts, Ford says it’s because of upgrades made to the Michigan plant that builds the truck. Improving costs for raw battery materials and Ford’s continued work on scaling production and cost are also factors. “Customers will now have greater availability of their built-to-order truck as early as October at an MSRP closer to initial Lightning pricing,” the company says.

The Rouge Electric Vehicle Center in Dearborn, Michigan, is expected to triple its annual run rate to 150,000 F-150 Lightning trucks beginning this fall.

The cuts bring the price of the Lightning closer to where it was when the truck was first announced in May of 2021, when the base model was (briefly) offered for $39,974.

“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 of Ford Model e, the arm of the company responsible for electric vehicles. “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.”

The base model Pro gets the single biggest cut, from $59,974 to $49,995, a reduction of $9979, almost 17 percent. (That price does not include $1995 in shipping costs.)

The smallest cut is for the top-of-the-line Platinum Extended Range model, which goes from $98,074 to $91,995, a reduction of $6079. The XLT Extended Range, one of the most popular models, goes from $78,874 to $69,995, a cut of $8879. In addition, Ford is offering a $1000 bonus for retail customers who build their own XLT, Lariat, or Platinum truck through their dealer or via ford.com from July 6 to July 31.

The company is also offering eligible buyers interest rates as low as 1.9 percent APR for 36 months. Most F-150 Lightning models are also eligible for as much as $7500 in potential Inflation Reduction Act consumer and commercial electric vehicle tax credits. 

As an added enticement, early next year all F-150 Lightning customers will have access to more than 12,000 Tesla Superchargers across the U.S. and Canada.

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