Ford F-150 Lightning costs are going up once more. The US automaker is elevating the electrical pickup’s beginning price by $4,000, bringing the brand new entry worth to $55,974. That’s a 40 p.c improve over the electrical automobile’s preliminary beginning worth in May 2021.
Ford told CNBC at present that it’s altering pricing “as a normal course of business due to rising material costs, market factors, and ongoing supply chain constraints.” Raw materials prices of nickel, cobalt and lithium — essential to electrical automotive batteries — have soared alongside EV demand.
Through the top of November, Ford has solely bought 13,258 F-150 Lightning models, however that quantity is a mirrored image of provide constraints quite than low demand (quite the opposite, the truck remains to be a sizzling commodity). The firm plans to spice up manufacturing to 150,000 models by subsequent fall — and it mentioned earlier this week that it’s nonetheless on observe to satisfy that objective. It just lately added a 3rd shift of employees to a Michigan manufacturing plant to assist meet that objective.
Ford is the second-biggest American vendor of electrical automobiles (behind Tesla), and the F-150 Lightning is the top-selling electrical truck. Considering Ford F-series vans have been the best-selling automobiles within the US for 3 a long time, that buyer loyalty seems to be carrying over to EVs. Earlier this 12 months, Engadget’s Roberto Baldwin rode alongside for a take a look at drive and commented on how a lot it felt like an ordinary F-150.
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