Ford raises the price of electric F-150 Lightning

The Ford F-150 Lightning truck is manufactured at the Rouge Electric Vehicle Center in Dearborn Michigan.

Licensed: Ford Motor Co.

ADVICE – Ford Motor On Tuesday it said it was raising the starting price of the electric F-150 Lightning pickup due to “significant increases in material costs and other factors.”

The Detroit automaker said the price increase — from $6,000 to $8,500, depending on the model — will not affect customers who have ordered a vehicle and are awaiting delivery. They will affect an undisclosed amount of unbooked truck holders.

Starting prices for the 2023 F-150 Lightning will now range from about $47,000 to $97,000, up from about $40,000 to $92,000 for the 2022 model year. Prices do not include taxes and shipping/delivery costs.

Ford is the latest automaker to raise the price of its latest electric vehicle amid rising inflation and the cost of goods. Synthetic engine previously raised the price of its Hummer EV pick up $6,250while starting the EV Rivian Automotive and Lucid increases their vehicle cost essentially more than that. Tesla also raised prices this year for its vehicles.

Cost of materials for electric vehicles more than doubled during the coronavirus pandemicAccording to a recent report by research and consulting firm AlixPartners.

Ford’s price hike comes before the automaker reopens orders on Thursday for the F-150 Lightning. Late last year, the company announced it closed the order for vehicles after receiving over 200,000 non-binding truck reservations.

It’s not clear how long customers will have to wait for a new truck after placing an order. Ford has sold only about 4,400 vehicles since it started delivering vehicles in May. A company spokesman said deliveries of new orders are expected to begin this fall.

Starting this fall, Ford also said Tuesday that the electric range of the F-150 Lightning models with standard batteries is expected to increase by 10 miles to 240 miles. Trucks with larger batteries have a range of up to 320 miles.

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