Ford employees produce an electrical F-150 Lightning pickup on the automaker’s Ford Rouge Electrical Car Heart (REVC) on Dec. 13, 2022.
Michael Wayland | cnbc
Detroit – ford motor has as soon as once more raised the beginning worth of its electrical F-150 Lightning, citing excessive uncooked materials prices for the pickup truck.
The brand new worth for the F-150 Lightning Professional, an entry-level mannequin geared toward industrial and enterprise clients, will probably be $55,974 – up practically 8% from earlier pricing, or $4,000 and a 40% enhance from the unique $39,974 introduced Might 2021 In.
A Ford spokeswoman mentioned Friday in an emailed assertion that the corporate adjusts car pricing “as a standard course of enterprise as a result of rising materials prices, market components and provide chain constraints.”
Ford initially made waves when it introduced that the beginning worth for the Lightning could be round $40,000, making it extra inexpensive than many EVs in the marketplace. Wall Road praised the car, and it was a serious enhance for the corporate on the time.
However the price of crucial uncooked supplies reminiscent of cobalt, nickel and lithium has elevated considerably amid rising demand and provide chain issues.
The newest worth hike — not less than the third this 12 months — follows Ford’s effort to broaden manufacturing of the electrical pickup to 150,000 items by subsequent fall. The corporate mentioned earlier this week that it stays on observe to take action, because it lately added a 3rd shift of employees on the Michigan plant making the car.
“Whereas demand for this breakthrough car is powerful and persevering with to develop, we’ll proceed to observe pricing via the mannequin 12 months,” the spokesperson mentioned in an emailed assertion.
By the tip of November, Ford had offered solely 13,258 F-150 Lightnings.
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