On July 17, Ford lowered the price of its electric F-150 Lightning truck, claiming that its efforts to increase manufacturing and reduce the cost of battery materials had been successful.
Ford claims to be nearing completion of a significant update to its Rouge Electric Vehicle Center in Michigan, which will soon allow the factory to increase its output of the F-150 Lightning. Ford can now lower the price of all F-150 Lightning variants thanks to this level of scale and declining raw material costs, bringing MSRPs closer to the figures initially predicted when the electric pickup first appeared.
The Detroit automaker pledged a $50 billion global commitment to convert its production facilities, including the Rouge Electric Vehicle Center (REVC) in Dearborn, Michigan, to EV manufacturing to meet rising demand. The automaker also revealed its intentions to increase Lightning production at Rouge in March last year. Still, while the American manufacturer kept trying to grow, other financial difficulties shook its bottom line.
Although, Jim Farley has prioritized increasing the manufacturing of Lightning and other electric vehicles this year. However, the drive to increase production hasn’t always gone well. After being forced to halt manufacturing for five weeks in February due to a fire in a freshly finished truck, Ford only sold 4,466 Lightnings in the second quarter.
When the Lightning debuted in 2021, the work-truck Pro trim, which was the least expensive, cost around $40,000. After multiple price increases, the sticker price of the entry-level truck reached over $60,000 in March; however, July’s 17th price decreases brought it down to roughly $50,000.
However, new buyers will be able to customize their Lightning truck starting in October at a cost that is more in line with what was initially promised a few years ago. The following will be the new MSRPs, which Ford attributes to improvements to the REVC and lower battery material costs:
Lightning Model Previous MSRP Updated MSRP Savings
Pro $59,974 $49,995 $9,979
XLT 311A $64,474 $54,995 $9,479
XLT 312A $68,474 $59,995 $8,479
XLT 312A Extended Range: $78,874 $69,995 $8,879
Lariat 510A $76,974 $69,995 $6,979
Lariat Extended Range $85,974 $77,495 $8,479
Platinum Extended Range $98,074 $91,995 $6,079