Ford Cuts EV Truck Prices by $10K

Ford Motor has reduced prices for its electric F-150 Lightning pickup by up to $10,000 due to successful efforts to boost production and lower costs for battery minerals. The price cuts affect all truck versions, with even the top-line Platinum trim seeing a reduction of at least $6,000 from previous levels set in March. The company had faced supply constraints and higher prices for battery minerals, leading to multiple price increases since the truck's debut in 2021. Ford actively works to increase production capacity and expects factory upgrades to triple output by fall. Ford aims to make the electric truck more affordable, with the entry-level version's sticker price reduced to about $50,000 and the extended-range Platinum trim starting at approximately $92,000. Ford is set to report its second-quarter earnings on July 27.