Ford Raises Prices of F-150 Lightning Electric Truck By Thousands of Dollars, Citing Rising Material Costs.

Ford Motor on Tuesday became the latest automaker to raise the price of electric vehicles when it significantly increased prices of its popular F-150 Lightning because of rising materials costs. From a report: The company began making the Lightning in April and had sold more than 4,400 through the end of July. Ford has taken reservations for more than 200,000, and the higher prices will go into effect for the 2023 model year. Ford said it was increasing the starting prices of the truck by $6,000 to $8,500 for newly ordered vehicles. After the increase, the truck will cost from $46,974 for a base model to $96,874 for a Platinum version with an extended-range battery pack. The increases do not affect customers who have already placed orders and are waiting for their trucks. Reservations give customers a spot in line to place an order to buy a truck. Ford stopped taking orders because of strong demand but said it would resume doing so on Thursday, when the new prices go into effect. "We've announced pricing ahead of reopening order banks so our reservation holders can make an informed decision around ordering a Lightning," said Marin Gjaja, chief customer officer for Ford's electric vehicle division, known as Model e, in a statement.

Read more of this story at Slashdot.