Ford’s 2023 F-150 Lightning EV pickup sees five-figure price cut

Article content

Ford is dropping the price of its 2023 F-150 Lightning all-electric pickup truck by as much as $15,000 in Canada, thanks to improvements it plans to make in vehicle production efficiencies and the cost of raw materials for batteries. The automaker has temporarily closed its Rouge Electric Vehicle Center in Michigan, where the truck is built, so it can complete final upgrades to it. The upgrades will triple the plant’s annual production to a targeted 150,000 vehicles, beginning this fall — and as with virtually all manufactured goods, higher volumes can bring down the cost of producing each vehicle.

Article content

We apologize, but this video has failed to load.

Ford’s 2023 F-150 Lightning EV pickup sees five-figure price cut Back to video

We apologize, but this video has failed to load.

Play Video

The base Pro trim, currently with an MSRP of $74,000, will drop to $59,000, a difference of $15,000. The XLT is lowered by $10,000, with the standard-range model now $69,000; and with extended-range battery it is $85,000. The Lariat with standard-range is now $80,000, dropping by $10,000; and with extended-range battery it is $99,600, down by $9,000. The top-level Platinum Extended Range goes from $121,000 to $115,000.

Pricing also drops for U.S. customers, where the F-150 Lightning will now be priced between $49,995 and $91,995 — down from $59,974 to $98,074.

Ford said the plant upgrades will give customers “greater availability of their built-to-order truck as early as October,” and now with an MSRP (manufacturer’s suggested retail price) that’s closer to the prices given when the truck was first announced. That initial price soared due to “rapidly rising material costs, supply constraints, and other factors,” the automaker said in a statement.