While the ICE (internal combustion engine) vehicle market has to deal with external factors such as rising (and falling) gas prices, the electric vehicle market continues to battle the headwinds of rising commodity prices. Unlike the ebb and flow of the oil market, the rising costs of materials such as lithium and nickel are directly baked into the price of an EV. As such, pricing for electric vehicles such as the Ford F-150 Lightning continue to climb. And the heralded electric truck now carries a starting MSRP that’s 40 percent higher than what was first announced in 2021.
The original pricing given for the base model F-150 Lightning (F-150 Lightning Pro) which is meant for commercial and business customers was said to be $39,974. Its new established starting price is $55,974 which is a $16,000 increase in just over a year. This most recent price hike also resembles a $4,000 increase over its latest price jump. As for the Ford F-150 Lighting’s other trims, the XLT has a starting price of $63,474, the Lariat sits at $74,474, and the Platinum comes in at just under $100,000 ($96,874).
Integral raw materials used in constructing an all-electric pickup truck like the F-150 Lightning, include Cobalt, Lithium, and Nickel. All of these materials have skyrocketed in price, as a result in the shift to all-electric vehicle manufacturing. It wasn’t the first all-electric pickup truck to the market, that award goes to Rivian and its R1T however it was one of the first all-electric pickup trucks to come out of “the big three” in Detroit. It’s unclear whether or not the prices will deflate at a certain point, but as of right now, pricing trends are only going in one direction, up. Good news for fans of the all-electric F-150, the company expects to be capable enough to churn out 150,000 units a year by next fall. Perhaps that can be viewed as a light at the end of the tunnel if you are in fact waiting in line for your own F-150 Lighting.