DETROIT – Ford Motor has as soon as once more elevated the beginning worth of its electrical F-150 Lightning, citing increased uncooked materials prices for the pickup truck.

The brand new worth of the F-150 Lightning Professional, an entry-level mannequin meant for industrial and enterprise clients, will likely be $55,974 — up practically 8%, or $4,000, from earlier pricing and a 40% improve from the unique pricing of $39,974 introduced in Might 2021.

A Ford spokeswoman in an emailed assertion Friday stated the corporate adjusts car pricing “as a traditional course of enterprise on account of rising materials prices, market components, and ongoing provide chain constraints.”

Ford initially made waves when it introduced the beginning worth for the Lightning can be about $40,000, making it extra inexpensive than many EVs available on the market. Wall Road praised the car, and it was a serious enhance for the corporate at the moment.

However essential uncooked materials prices resembling cobalt, nickel and lithium have considerably elevated amid rising demand and provide chain issues.

The newest pricing improve – at the least the third this 12 months – comes as Ford makes an attempt to broaden manufacturing of the electrical pickup to 150,000 models by subsequent fall. The corporate earlier this week stated it stays on monitor to take action, because it just lately added a 3rd shift of employees to a Michigan plant producing the car.

“Demand for this breakthrough car is robust and continues to develop, we’ll proceed to watch pricing by means of the mannequin 12 months,” the spokeswoman stated within the emailed assertion.

Via the tip of November, Ford had solely offered 13,258 F-150 Lightnings.