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Ford raises price of Lightning F-150 electric vehicle as it comes back to market

Consumers may have to pay up to $8,500 more, but they can save a little by taking advantage of tax credits

Ford F-150 Lightning electric vehicle
Photo (c) jetcityimage - Getty Images
Ford has announced that it will start taking orders again on its electric pickup truck, the Lightning F-150, this Thursday. But for consumers who have waited for the vehicle to become available again, they’ll be paying a pretty penny – up to $96,874 for the Platinum Extended Range edition. That's up to $8,500 more than they would have paid when the vehicle was originally released.

When the truck first hit the streets in May 2021, the “Pro” base model had an MSRP of $40,000. Now, its sticker price is $46,974. There are several layers of bells and whistles a buyer can get their truck decked out with, including everything from police-grade heavy-duty cloth front seats to an automatic trailer hitch mechanism. The package upgrades run anywhere from $6,000-$13,000.

In announcing the truck’s return, Ford said the higher price points came about due to “significant material cost increases and other factors.” However, it says the truck's standard range battery will improve the driving range from an EPA-estimated 230 miles to 240 miles. 

“Current order holders awaiting delivery are not impacted by these price adjustments,” said Ford official Marin Gjaja. “We’ve announced pricing ahead of re-opening order banks so our reservation holders can make an informed decision around ordering a Lightning.”

Special offers and tax credits

The automaker said consumers who made a reservation for a Lightning truck but elected to extend their reservation because their vehicle specification was unavailable will receive a “private offer for use in upcoming waves.” ConsumerAffairs reached out to Ford for an explanation as to what the “private offer” would entail or cost, but the company did not immediately respond to our request.

Consumers who don’t want to feel the sting of the higher prices on the F-150 should keep in mind that the federal government’s EV tax credit can lower the cost by $7,500. And that credit will now last a decade thanks to the Inflation Reduction Act that Congress just passed.

However, those tax credits come with their own set of requirements, such as the vehicle being assembled in North America and a requirement for the “critical minerals” in its battery to be sourced in the U.S. or in a country that the U.S. has a free trade agreement with. 

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