DETROIT – Ford Motor is mountaineering the beginning costs of its electrical Mustang Mach-E crossover by greater than $8,000 for some fashions, because it reopens order banks for the 2023 mannequin 12 months.

The corporate on Thursday stated the markups – ranging between $3,000 and $8,475, relying on the mannequin and battery – are because of “important materials price will increase, continued pressure on key provide chains, and quickly evolving market circumstances.”

The Mach-E is the newest electrical car to expertise a worth improve, as uncooked materials prices for batteries for electrical automobiles greater than doubled throughout the coronavirus pandemic.

The beginning costs for the 2023 Mustang Mach-E will now vary from about $47,000 to $70,000, up from roughly $44,000 to $62,000 for the 2022 mannequin 12 months. Costs exclude taxes and transport/supply prices.

Ford earlier this month additionally raised the beginning costs of its electrical F-150 Lightning pickup by between $6,000 and $8,500, relying on the mannequin. The automaker cited related causes for these will increase, particularly associated to uncooked supplies corresponding to lithium, cobalt and nickel which might be utilized in batteries for the automobiles.

Others automakers together with Common Motors, Rivian, Lucid and Tesla additionally considerably raised costs on their latest electrical automobiles.

Along with the brand new pricing, Ford stated it modified choices and elevated capabilities for some Mach-E fashions. It is also growing transport prices on the Mach-E by $200 to $1,300 on all fashions.

Ford stated the upper costs will go into impact for brand new orders positioned beginning Tuesday, when order banks reopen.

Clients who’ve present, unscheduled 2022 mannequin 12 months orders will obtain a “non-public supply” to transform to a 2023 mannequin 12 months car, the corporate stated. It isn’t instantly clear what worth these clients can be supplied.