The electric pickup truck market is heating up as Ford has just announced significant price reductions on the popular F-150 Lightning in an effort to boost production and sales. With the upgrades to Ford’s Rouge Electric Vehicle Center in Michigan nearing completion, the automaker plans to triple F-150 Lightning production capacity this fall. This increased scale along with lower battery costs has enabled Ford to cut prices across all Lightning trims by up to $10,000.
When first unveiled, the electric version of America’s bestselling truck for over 40 years generated tremendous interest from consumers. However, supply chain woes and rising material costs forced Ford to raise Lightning prices over the past year, slowing momentum. Now with production ramping up, Ford is aggressively lowering prices to jumpstart sales and compete with rivals.
The new starting MSRP for the Lightning Pro work truck model is $49,995, a nearly $10,000 discount. The XLT and Lariat trims see similar price drops to $54,995 and $69,995 respectively. Ford has also introduced a $1000 customer order bonus for configuring an XLT, Lariat or Platinum model on Ford’s website before July 31st.
Along with increased scale, Ford cites improved battery costs as a factor allowing the price cuts. And the timing aligns well with the Inflation Reduction Act’s electric vehicle tax credit qualifications, making the Lightning even more affordable for customers. The price drops put pressure on competitors like the Rivian R1T and GMC Hummer EV to follow suit.
With America’s best selling vehicle brand now offering its flagship electric truck at more competitive prices, the electric pickup wars are truly heating up. And Ford is demonstrating its strategy to aggressively scale EV production and sales to meet rising demand in the high-stakes transition to electrification.
