Ford raised the price of F-150 Lightning electric pickup again - from May 2021 the price increased by 40%

Ford has announced another price hike for its F-150 Lightning electric pickup truck, for which it cannot fully meet demand.

Here's What We Know

The price of the F-150 Lightning is now nearly $56,000, including the latest $4,000 price hike. Since May 2021, the cost of the car has increased by 40 percent. The manufacturer's recommended price for the car is $40,000.

Ford attributes its decision to rising material procurement costs, supply chain constraints and market factors. The company notes that along with the demand for electric cars, the cost of raw materials that are key to batteries has risen sharply. These are nickel, lithium and cobalt.

The F-150 Lightning went on sale last spring. Since then, the company has been able to sell just over 13,000 electric vehicles. However, that number does not reflect real demand. The pickup is popular with customers, but Ford can't meet demand due to limited supplies.

By next fall, the company wants to increase production of the F-150 Lightning to 150,000 vehicles. Ford has added a third shift at its Michigan plant to achieve the goal.

Source: Engadget