The Ford F-150 Lightning is currently the most popular electric pickup truck model on the market. There may not be many electric trucks available for purchase now, but plenty of automakers are developing new electric pickup nameplates. The F-150 Lightning just got a price hike because of an increase in battery costs.

How much does the 2023 Ford F-150 Lightning cost?

According to CNBC, the 2023 Ford F-150 Lightning will start at around $47,000. The F-150 Lightning could be eligible for the federal electric vehicle tax incentive if the Inflation Reduction Act of 2022 passes through the House of Representatives.

If the new F-150 Lightning model is eligible for the revamped federal electric vehicle tax incentive, the electric pickup truck’s starting price will be closer to $39,500. These prices do not include delivery costs, shipping costs, and taxes.

So, if the 2023 Ford F-150 Lightning is no longer eligible for the EV tax incentive, then it no longer has a starting price under $40K. This could cause thousands of potential buyers to rethink purchasing the popular electric pickup truck.

The Ford F-150 Lightning has become a hit because it is the electrified version of America’s favorite pickup truck. The Lightning offers even more utility than the gas-powered F-150, thanks to its electric powertrain. CNBC claims that the electric truck models will now range from around $47,000 to $97,000. Every trim level will see a price increase between $6,000 and $8,500.

Is the F-150 Lightning worth the money?

The Ford F-150 Lightning provides great value for the money, but a price hike certainly stings. The electric truck makes 563 horsepower and 775 lb-ft of torque. It has a maximum towing capacity of 10,000 pounds.

The truck has 240 miles of driving range. That’s an extra 10-mile range boost after the price hike. An extra 10 miles of range isn’t much, but at least the Blue Oval didn’t leave potential buyers high and dry after raising the price.

Ultimately, the Ford F-150 Lightning is worth the money because of its many standard features, driving range, and capabilities. That being said, can the electric pickup survive another price hike and be as popular? Probably not. This price hike could be some terrifying foreshadowing from other electric vehicle nameplates. Tacking on an extra $6,000+ could mess with even the most popular electric vehicle’s popularity among consumers.

What does the Ford F-150 Lightning’s price mean for other EVs?

Ford’s F-150 Lightning price hike could mean that most electric vehicles will eventually experience a price hike. It’s only a matter of time until lithium-ion battery materials become scarce because of the high demand for new EVs. This means that Ford’s electric pickup truck is the first of many EVs to get pricier.

Read more about the Ford F-150 Lightning in the next article below.