The Ford F-150 Lightning electric pickup truck has recently become more affordable, with the automaker reducing the price by as much as 7.5 percent. This move comes after a temporary halt in deliveries due to an undisclosed quality issue.
Prospective buyers of the Ford F-150 Lightning now have a better opportunity to make a purchase, as Ford has rolled back prices to near the levels of December 2023, reversing the hikes implemented in January.
In response to a downturn in the EV market, despite a significant 86 percent increase in electric vehicle sales bearing the Blue Oval logo, Ford has not only reduced prices but also scaled back production.
The company has shifted focus to manufacturing internal combustion engines (ICEs), leading to the dismissal of the third shift at the F-150 Lightning factory. Production of models like the Bronco has been ramped up to compensate.
This price restructuring coincides with CEO Jim Farley’s strategic realignment of Ford’s EV initiatives, aiming for a $12 billion investment in electric vehicles while continuing to develop hybrid propulsion systems. Ford’s long-term plan includes offering hybrid variants across its entire North American lineup by the end of the decade.
Furthermore, Ford is actively working on a smaller, cost-effective EV platform capable of supporting multiple high-volume vehicles. However, the release of a large electric SUV and pickup truck has been postponed due to the current low demand for EVs.