Ford lowers price of its electric truck by nearly $10,000

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Ford lowers price of its electric truck by nearly $10,000
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Ford is taking the Tesla tack, significantly lowering the price of its F-150 Lightning pickup.

The mass market brand of Ford Motor Company said in a release that the price changes are directly related to"increased plant capacity, continued work on scaling production and cost, and improving battery raw material costs."

"F-150 Lightning has been available in limited supply until now. As we scale, we can take advantage of increased plant capacity, continued work on scaling production and cost, and improving battery raw material costs to help lower the MSRP of F-150 Lightning for all customers," a spokesperson for Ford toldThe company stopped work on the F-150 Lightning in February to investigate the cause of a fire that occurred in one Lightning truck. Production restarted in March.

Additionally, the upgrades will allow Ford to offer customers greater availability of built-to-order trucks as early as October"at an MSRP closer to initial Lightning pricing" the release states. "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."The base model Ford F-150 Lightning Pro changes in price from $59,974 to $49,995, a reduction of $9,979. The Ford F-150 Lightning XLT 311A and XLT 312A are reduced $9,479 and $8,479, respectively. The XLT 312A Extended Range drops to $69,995 from $78,874.

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