Ford hikes price of electric F-150 Lightning, but it’s still cheaper than Tesla’s Cybertruck

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Ford Motor is increasing the starting prices of its electric F-150 Lightning pickup due to “significant material cost increases and other factors.”
The starting prices for the 2023 F-150 Lightning will now range from about $47,000 to $97,000, up between $6,000 and $8,500, depending on the model
Ford is the latest automaker to increase pricing of its newest electric vehicles amid rising inflation and commodity costs.

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DEARBORN – In response to “substantial material cost increases and other considerations,” Ford Motor said on Tuesday that it is raising the starting costs for its electrified F-150 Lightning truck.

According to the Detroit carmaker, buyers who have already ordered a vehicle and are waiting for delivery won’t be affected by the price increases, which range from $6,000 to $8,500 depending on the model. Unknown numbers of reservation holders who have not yet ordered a truck will be impacted.

The starting price range for the 2023 F-150 Lightning has increased from from $40,000 to $92,000 for the 2022 model year to approximately $47,000 to $97,000. Taxes and delivery fees are not included in the price.

Ford is the most recent automaker to raise the price of its most recent electric vehicles in response to increased commodity and inflation expenses. EV startups Rivian Automotive and Lucid hiked the price of their vehicles significantly more than General Motors did when it upped the price of its Hummer EV truck by $6,250. This year, Tesla increased the cost of its cars as well.

According to a recent study by the consulting and research firm AlixPartners, the cost of raw materials for electric vehicles increased by more than double during the coronavirus pandemic.

Prior to reopening orders for the F-150 Lightning on Thursday, Ford has raised its prices. After collecting more than 200,000 non-binding reservations for the truck, the business revealed before the end of last year that it had closed orders.

Customers’ wait times for new trucks after placing an order are currently unknown. Since May, when delivery started, Ford has barely sold 4,400 automobiles. Deliveries of fresh orders are expected to start this fall, according to a business spokesman.

Ford added on Tuesday that the electric range of F-150 Lightning vehicles equipped with a standard battery is anticipated to rise by 10 miles to 240 miles starting this fall. Larger batteries allow trucks to travel up to 320 kilometres.

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