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Ford hikes F-150 Lightning prices, resumes production

Ford F-150 Lightning vehicles manufactured on the Rouge Electrical Automobile Middle in Dearborn Michigan.

Courtesy: Ford Motor Co.

Ford Motor mentioned that it has resumed full manufacturing of its electrical F-150 Lightning pickup following a February battery fireplace – and that it is as soon as once more elevating costs on the favored truck.

Ford mentioned that the standard-range Lightning Professional, a lower-cost model of the truck optimized for fleet use, will now begin at slightly below $60,000, not together with transport. That is roughly 50% increased than the Lightning Professional’s unique beginning value at launch final spring. (Ford famous that the 2023 Lightning Professional is bought out for retail clients; order banks for fleet clients will reopen in April, the corporate mentioned.)

Ford additionally raised the worth of the mid-level Lariat trim with standard-range battery from about $74,500 to simply beneath $76,000. The beginning value for a Lightning within the top-line Platinum trim additionally elevated, from about $96,900 to simply over $98,000.

Information of the worth will increase and the resumption of Lightning manufacturing was first reported by Automotive Information.

Ford has raised Lightning costs a number of instances because it first introduced the truck’s pricing in 2021. Initially set to begin at slightly below $40,000 for the standard-range Professional model, fast-rising prices of essential uncooked supplies resembling lithium, cobalt and nickel – and unexpectedly excessive demand for the electrical pickup – led Ford to extend costs a number of instances in 2022.

Ford halted manufacturing and shipments of the Lightning in February after a just-built truck awaiting a top quality verify caught fireplace in a Ford holding lot. The corporate subsequently recognized a possible battery cell defect and recalled 18 Lightnings that will have had the identical subject.

No different fires had been reported, and Ford mentioned on the time that it was unaware of any accidents or accidents associated to the defect.

Shipments of the Lightning will even resume this week, a Ford spokesperson advised CNBC.