As Production Ramps Up, Ford F-150 Lightning Prices Go Way Down

Published on July 17, 2023 in Electric by Guillaume Rivard

Ford’s electric pickup has been hit with a couple of price increases since launching in Canada and the U.S., but this stops now. The automaker is indeed slashing prices across the lineup, a move that will please new customers and likely upset existing ones. The changes are effective immediately.

“Shortly after launching the F-150 Lightning, rapidly rising material costs, supply constraints and other factors drove up the cost of the EV truck for Ford and our customers,” said Marin Gjaja, chief customer officer at Ford Model e. “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 Rouge Electric Vehicle Center in Michigan is temporarily closed to complete final plant upgrades to triple the plant’s annual run rate—thanks to an investment of approximately $2 billion USD. The target is 150,000 F-150 Lightning trucks beginning this fall.

In a press release, Ford said customers will have greater availability of their built-to-order truck as early as October at an MSRP closer to initial Lightning pricing. What’s more, many dealerships will also have stock and demo units for the first time.

How Much?

First of all, the F-150 Lightning Pro gets the largest price cut at $15,000. It now starts at $59,000. Even better, this entry-level model is now being made available to retail customers as well, not just businesses and fleet operators. That means it qualifies for the $5,000 federal rebate plus provincial rebates of up to $7,000 where applicable. The Lightning Pro comes with the smaller battery only, mind you.

The XLT Standard Range, XLT Extended Range and Lariat Standard Range models all drop $10,000. Their new MSRPs are $69,000, $85,000 and $80,000, respectively. The Lariat Extended Range costs $99,000, which is down $9,000.

As for the top-line Platinum Extended Range model, you’ll be looking at a price of $115,000 instead of $121,000. Destination and delivery is $2,295 in all cases.

A Ford Canada spokesperson confirmed to The Car Guide that there are no changes to F-150 Lightning specs or performance. Today’s price adjustments are the result of greater plant capacity and manufacturing efficiencies only.

As we reported in February, however, the company plans to start making F-150 Lightning trucks with lithium iron phosphate (LFP) batteries sometime in 2024 in order to ramp up production even more. These batteries are very durable and tolerate more frequent and faster charging while using fewer high-demand, high-cost materials, Ford explained.