Ford F-150 Lightning gets significantly cheaper thanks to increased production capacity

The volatility of EV prices shows no signs of abating anytime soon. We've seen plenty of price hikes, indeed they are still the most prevalent, but also some price cuts here and there, and today is just one of those days. A good one for consumers, that is.

Ford has decided to significantly slash the previous prices for its F-150 Lightning truck in the US, saying the new numbers are in line with its recently increased production capacity, as well as improved efficiency in the production process. And so, it's decided to pass the savings on to its customers, which is very nice and a pretty rare occurrence, if we're being honest (Tesla having been another example at times).

So, the entry-level F-150 Lightning in the Pro trim now starts at $49,995, down from $59,974. That's the greatest price reduction of the bunch, with $9,979 saved. The next model up the price ladder, the XLT 311A, gets the second biggest price drop - from $64,474 to $54,995 (down $9,479).

Next up, we have the XLT 312A, now starting at $59,995 (down from $68,474), then the XLT 312A Extended Range and the Lariat 510A which both start at $69,995 (down from $78,874 and $76,974, respectively), followed by the Lariat Extended Range which is now $77,495 (down from $85,974) and the Platinum Extended Range which goes for $91,995, where it was previously priced at $98,074. A $1,995 "Destination and Delivery" charge will be added on top of all these prices. You can see the full breakdown in the table below.

Ford's Rouge Electric Vehicle Center in Michigan is currently undergoing final plant upgrades to triple its production capacity for the F-150 Lightning up to 150,000 units per year starting this fall. These upgrades, combined with lower costs for battery raw materials and "continued work on scaling production and cost" are what made these price cuts possible, according to the company.

Additionally, you'll wait less for your built-to-order F-150 Lightning to get to you. Order one today and you'll receive it in October. What's more, if you build your own XLT, Lariat, or Platinum truck before July 31 you'll get a $1,000 bonus.

Marin Gjaja, Ford's chief customer officer, said:

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. 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.