Ford gives the F-150 Lightning a big price cut as production ramps up

Ford's F-150 Lightning electric pickup truck just got significantly cheaper. On Monday, the automaker announced hefty price cuts across the F-150 Lightning lineup, cutting between $6,079 and $9,979 from the truck's MSRP. The cuts reverse some recent price increases, although the commercial-focused F-150 Lightning Pro is still about $10,000 more expensive than when Ford first launched the Lightning in 2021.

Ford says that increased capacity at its Rouge Electric Vehicle Center in Michigan is responsible for the price cuts, along with cheaper raw materials for the electric trucks' lithium-ion batteries.

"Shortly after launching the F-150 Lightning, rapidly rising material costs, supply constraints and other factors drove up the cost of the EV truck for Ford and our customers," said Marin Gjaja, chief customer officer of Ford Model e (Ford's EV division). "We've continued to work in the background to improve accessibility and affordability to help to lower prices for our customers and shorten the wait times for their new F-150 Lightning."

As with so many things EV-related, Tesla started the price-cutting trend (albeit with an occasional price increase, too) here in the US. That has helped drive down used EV costs over the past year, although some have questioned whether there's a glut of new EVs that aren't selling well.

The biggest price cut ($9,979) is for the Ford Pro, but the price of the cheapest XLT spec has fallen by nearly as much ($9,479). Ford says that build-to-order F-150 Lightnings should be available from October this year.