Ford slashes electric F-150 prices citing improved production and battery costs

Key takeaways

Ford is slashing prices of its electric F-150 Lightning as it benefits from improved production and lower battery costs.
The MSRP of the cheapest model is reduced by nearly 10,000 $.
The changes bring the cost back closer to its original price when it launched in 2021.

Ford Motor Company (F) is cutting prices for its popular F-150 Lightning electric pickup, citing production improvements and lower battery costs.

The company said it's slashing the cost of its lowest-priced model, the Pro, by $9,979, cutting the manufacturer's suggested retail price (MSRP) to $49,995 from $59,974. It lowers the MSRP of its other models to $9,470 from $6,079.

Ford is taking advantage of lower raw materials spending for its batteries, and it has “continued to work on scaling production and cost,” the company said. The company's Rouge Electric Vehicle Center in Michigan is being upgraded to triple the plant's annual operating rate to reach a goal of 150,000 Lightning this fall, Ford said.

Marin Gjaja, customer manager for the Ford Model E division, noted that soon after the Lightning's launch two years ago, rising material costs, supply and supply constraints Other factors forced Ford to raise the price of the vehicle. He said the company has continued to work to lower the MSRP and shorten customer wait times, and can now bring the price of the pickup truck closer to what it is. ;it was initially.