Ford Raises F-150 Lightning Price Again, Now Base $16,000 | Daily News Byte

Ford Raises F-150 Lightning Price Again, Now Base ,000

 | Daily News Byte


The price of electric cars seems to be heading in the wrong direction. The price of Ford‘s (NYSE: F) F-150 Lighting has gone up again, for the third time this year, and now sells for a starting price of US$55,974, Electrek reports.

The American carmaker’s electric pickup truck originally came with a starting price of $40,000, the same as the single-motor price of Tesla’s Cybertruck when it was announced in 2019. But that began to change in August when Ford increased the price of all model by $6,000 to $8,000, and again in October when the base model price reached $52,000.

The latest increase brings the price of the base F-150 Lightning up 40% from when it first launched. Ford could not comment on the latest price hike but it comes as the global average price of lithium-ion battery packs rose 7% to 151 per kilowatt-hour, according to BloombergNEF’s annual battery price survey.

This is the first time battery prices have risen since BNEF began tracking 12 years ago. The increase in battery prices comes as the cost of battery metals such as lithium and nickel also increases. BNEF forecasts that these increases will not change until 2024 as lithium production increases.

Electrek points out that Ford’s price hike coincides with the company’s plans to increase production. The company recently added a third shift at the Detroit assembly plant where the pickup truck is made.

As of November, Ford has sold 13,258 units since the beginning of the year. The carmaker says it will produce 150,000 F-150 Lightings by 2023.

The price hike is not limited to Ford, and it threatens EV adoption on a wider scale. According to Inside EVs, EV prices rose 9% year over year, with a 2% increase, from October to November this year. The average EV price is now $65,000.

Information for this briefing was found through Electrek, BloombergNEF, Inside EVs, and the sources mentioned. The author has no securities or affiliations associated with this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author has no licenses.


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