Gary Zhou 
Key Points
- 💰 Ford has reduced prices for the F-150 Lightning by nearly $10,000 on certain configurations, with other variants seeing price cuts of at least $6,000.
- 🏭 Increased plant capacity, production scaling, cost reductions, and improving raw battery material costs have allowed Ford to make the F-150 Lightning more affordable for customers.
- 📉 The price cuts are aimed at competing with other electric truck options in the market.
- 🚙 The most affordable Pro configuration is now priced below $50,000 after a reduction of $9,979, while other models have been brought down by varying amounts.
- 🛠️ Upgrades at the Rouge Electric Vehicle Center are already impacting vehicle prices, and the center’s production rate is expected to triple in the near future.
- 💥 The launch of the F-150 Lightning faced challenges due to rising materials costs and supply constraints, leading to higher prices than initially projected.
- 💸 Ford is offering a bonus $1,000 off for retail customers who build certain configurations of the F-150 Lightning.
- ⚡ Ford EV drivers will have access to 12,000 Tesla Superchargers next year through a deal between the two companies.
Ford has implemented significant price reductions for certain configurations of the F-150 Lightning, with nearly $10,000 being cut in some cases. Other variants of the all-electric pickup are also experiencing price reductions of at least $6,000.
Ford attributed these price cuts to factors such as increased plant capacity, production scaling, cost reductions, and improved pricing for raw battery materials. The company’s goal is to enhance affordability for customers by reducing the price of the F-150 Lightning.
In order to meet growing demand, Ford is upgrading the Rouge Electric Vehicle Center in Dearborn, Michigan. This upgrade is expected to triple the production rate of the all-electric pickup to 150,000 units annually starting this fall. Simultaneously, Ford aims to lower costs to compete effectively with other electric vehicle trucks currently in the market or soon to be launched.
REVC is currently closed due to the upgrades as they are nearing completion. However, the upgrades are already taking effect on the price of the vehicles.
Ford’s cuts have brought the Pro configuration, which is the most affordable, to below $50,000 as its price was adjusted by $9,979. The XLT 311A was also cut by this amount and now starts t $54,995. Other models were brought down by $8,479, $8,879, $6,979, and $6,079.
- Pro – $49,995 – down $9,979
- XLT 311A – $54,995 – down $9,479
- XLT 312A – $59,995 – down $8,479
- XLT 312A Extended Range – $69,995 – down $8,879
- Lariat 510A – $69,996 – down $6,979
- Lariat Extended Range – $77,495 – down $8,479
- Platinum Extended Range – $91,995 – down $6,079
The launch of the F-150 Lightning was at perhaps the worst possible time for Ford, as rising materials costs and supply constraints had hiked the cost of the truck from its initially projected prices. At one point, Ford expected the Pro to be just below $40,000.
Chief Customer Officer for Ford, Marin Gjaja, commented on this:
“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. 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 is also offering a bonus $1,000 off for retail customers who build an XLT, Lariat, or Platinum F-150 Lightning through their dealer or Ford.com. This offer is valid from July 6 to July 31.
Ford EV drivers will also have access to 12,000 Tesla Superchargers next year due to a deal between the two companies that was reached earlier this Summer.
