Ford cutting price of F-150 Lightning EV pickup
- Nathan Bomey, author of Axios Closer
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.