:Ford Motor deepened a price war in the electric-vehicle industry on Monday by slashing the rates of its F-150 Lightning trucks, including a 17 per cent cut for the base model, as it aims to boost its share of an EV market dominated by Tesla.
The Detroit automaker, which had raised Lightning prices earlier this year, said it was able to cut prices on improvements in scale and battery raw material costs. "Shortly after launching the F-150 Lightning, rapidly rising material costs, supply constraints and other factors drove up the cost of the EV truck for Ford and our customers," said Marin Gjaja, chief customer officer, Ford Model e.Ford also said it has temporarily closed its Rouge Electric Vehicle Center in Michigan to complete final plant upgrades as it aims to triple the facility's annual run rate to 150,000 Lightning trucks, beginning this fall.