Ford Motor Co. has raised the worth of the most cost effective variant of its F-150 Lightning electrical truck 9 % to $55,974, the corporate’s web site confirmed on Thursday.

The automaker has raised costs for its electrical pickup vans twice in three months, because it navigates greater prices and provide chain snags.

Automakers throughout the globe, together with Tesla and Rivian are additionally fighting greater costs of uncooked supplies similar to lithium and have warned excessive prices have been right here to remain.

Ford, which beforehand mentioned it was concentrating on annual manufacturing of 150,000 Lightning pickups by the autumn of 2023, didn’t instantly reply to a Reuters request for a touch upon the worth hike.

The corporate’s shares have been down about 3.5 % in afternoon commerce amid declines within the broader market.