Officially unveiled back in May 2021, the Ford F-150 Lightning entered production more than a year before units of the 2024 Chevy Silverado EV began rolling off the assembly line. However, following the commencement of production of the Bow Tie brand’s all-electric pickup, the Blue Oval has decided to significantly lower the starting prices of the F-150 Lightning.
Starting MSRPs of the Ford F-150 Lightning are down across the board. The most significant drop was for the entry-level Pro trim, which fell from $59,974 to $49,995, or by nearly $10,000. The least significant decrease was for the range-topping Platinum Extended Range variant, which dropped from $98,074 to $91,995, or by just over $6,000. Notably, the destination freight charge remains at $1,995.
It’s worth noting that Ford claims that these updated prices reflect efforts to scale down production costs and improved battery raw material costs.
“Shortly after launching the F-150 Lightning, rapidly rising material costs, supply constraints and other factors drove up the cost of the EV truck for Ford and our customers,” Ford Model Chief Customer Officer Marin Gjaja was quoted as saying. “We’ve continued to work in the background to improve accessibility and affordability to help to lower prices for our customers and shorten the wait times for their new F-150 Lightning.”
As a reminder, the 2024 Chevy Silverado EV rides on the narrow-body variant the GM BT1 platform, which can also be found underneath the GMC Sierra EV. Notably, the GMC Hummer EV Pickup and GMC Hummer EV SUV ride on the wide-body variant of the same vehicle platform. For motivation, GM Ultium batteries are paired with GM Ultium Drive motors, and provide up to 400 miles of range on a single charge.