Since the F-150 Lightning’s release in mid-2021, the auto manufacturer has raised prices several times, citing in part “significant material cost increases” for key electric vehicle battery components like lithium, cobalt, and nickel. And Ford\n \n isn’t alone. Tesla\n \n has also had to increase prices for a number of its models.
Prices for all models are down by an average of about $8,000. Ford said the cuts are due to “increased plant capacity, continued work on scaling production and cost, and improving battery raw material costs.” The company added that one of its vehicle assembly plants in Michigan is undergoing final upgrades to triple its output starting this fall.
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