Ford employees produce the electrical F-150 Lightning pickup on Dec. 13, 2022 on the automaker’s Ford Rouge Electric Vehicle Center (REVC).
Michael Wayland | CNBC
DETROIT – Ford Motor has as soon as once more elevated the beginning value of its electrical F-150 Lightning, citing greater uncooked materials prices for the pickup truck.
The new value of the F-150 Lightning Pro, an entry-level mannequin meant for industrial and business clients, will probably be $55,974 — up practically 8%, or $4,000, from earlier pricing and a 40% enhance from the unique pricing of $39,974 introduced in May 2021.
A Ford spokeswoman in an emailed assertion Friday mentioned the corporate adjusts automobile pricing “as a normal course of business due to rising material costs, market factors, and ongoing supply chain constraints.”
Ford initially made waves when it introduced the beginning value for the Lightning can be about $40,000, making it extra inexpensive than many EVs available on the market. Wall Street praised the automobile, and it was a serious increase for the corporate at the moment.
But important uncooked materials prices similar to cobalt, nickel and lithium have considerably elevated amid rising demand and provide chain issues.
The newest pricing enhance – not less than the third this 12 months – comes as Ford makes an attempt to increase manufacturing of the electrical pickup to 150,000 items by subsequent fall. The firm earlier this week mentioned it stays on observe to take action, because it just lately added a 3rd shift of employees to a Michigan plant producing the automobile.
“Demand for this breakthrough vehicle is strong and continues to grow, we will continue to monitor pricing through the model year,” the spokeswoman mentioned within the emailed assertion.
Through the top of November, Ford had solely bought 13,258 F-150 Lightnings.