Continuing a series of price cuts on electric vehicles that Tesla started early this year, Ford slashed those on its electric F-150, the Lightning.
The Michigan-based automaker said increased factory capacity and efficiencies and moves to reduce battery materials costs have helped it make the reductions of up to about $10,000. Other versions’ prices were cut by about $6,000.
“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, Ford Model e, in a press release about the cuts.
“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.”
Ford launched the Lightning in 2021.
The company sought to remind consumers in the release that owners of Ford EVs will be able to access Tesla chargers starting early next year after the two reached an agreement in May. Ford EVs will also have Tesla-standard connectors with its 2025 lineup. Though the two are electric rivals, Tesla, the U.S. EV market leader, has the biggest fast-charging system in the U.S.
The Lightning price cuts come as Tesla introduced its first electric pickup, the Cybertruck.
