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has increased the starting price of its electric F-150 Lightning Pro to nearly $56,000, the latest in a series of sticker hikes attributed to the rising costs of raw materials.
When the first full-size, battery-powered pickup trucks began rolling off Detroit assembly lines in April, the starting price was roughly $40,000.
By August, that price had jumped to $46,974. And in October, Ford executives raised it again, to $51,974.
New orders for the F-150 Lightning Pro will start at $55,974, a Ford Motor spokeswoman said Friday—a 40% increase from its original price tag.
The Dearborn, Mich., auto maker said rising material costs, market factors and continuing supply-chain constraints are driving the price changes.
Customers who have placed orders and are awaiting delivery won’t be affected by the increase, the company said.
Ford’s initial price of around $40,000 would have made the Lightning more affordable than many competitors and about the same price as the Cybertruck from
Auto makers including Tesla and
have also been raising prices on certain electric vehicles as they look to offset the higher costs of raw materials, such as lithium and cobalt, used in their batteries.
Ford and others are hurrying to capitalize on momentum for electric cars. The Lightning and other forthcoming EVs have drawn positive reviews from critics and long wait lists.
Write to Ginger Adams Otis at Ginger.AdamsOtis@wsj.com and Nora Eckert at nora.eckert@wsj.com
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