Jul 17, 2023 - Economy

Ford cutting price of F-150 Lightning EV pickup

Nathan Bomey

A man pats the hood of a blue pickup truck — Ford CEO Jim Farley pats a Ford F-150 Lightning pickup at a press conference on Feb. 13 in Romulus, Michigan. Photo: Bill Pugliano/Getty Images

Ford is cutting the price of its F-150 Lightning electric pickup by thousands of dollars — another sign of an intensifying EV price war.

Why it matters: The F-series truck is the best-selling vehicle in the country — and the F-150 Lightning version is among the first EV pickups on the market.

What's happening: Ford is slashing all versions of the F-150 Lightning by a range of $6,079 to $9,979.

The starting price of the base version is going from $59,974 to $49,995.
The most expensive version, the Platinum Extended Range, is going from $98,074 to $91,995.

Zoom out: The move follows a series of price cuts this year by EV sales leader Tesla and comes after a decline in the price of lithium, which had been fueling EV price increases until recently.

Automakers are also dealing with a growing glut of unsold EVs.
And Tesla announced Saturday that it had assembled the first version of its Cybertruck.
"Ford hears footsteps of Cybertruck and Rivian," Wedbush Securities analyst Dan Ives said on Twitter after Ford's price cut announcement.

What they're saying: Ford attributed the price cuts to increased production capacity, better manufacturing efficiency and "improving" battery raw material costs.

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Ford cutting price of F-150 Lightning EV pickup

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