CHICAGO — The single most shocking issue about the 2022 Ford F-150 Lightning when it was discovered was the cost. A base Professional commences at just $39,974. The XLT starts off at $52,974, and a thoroughly-loaded Platinum at $90,474. What’s so surprising about people charges is how near Ford is flirting with gasoline-engine F-150 cost equivalents — and that’s before individuals acquire edge of federal and condition tax incentives. Background has constantly proven us that electric autos have a tendency to be far more high-priced than their gasoline-powered equivalents, but which is a great deal less the circumstance with the Lightning.
Establish out an F-150 XLT to a similar spec as the Lightning — four-wheel push, Supercrew, EcoBoost V6, big touchscreen — and you’re still left with a pickup in the lower $50,000 range. Which is spitting length to the Lightning. A very similar issue happens when you execute this similar comparison with other trims, too. We’re not contacting possibly the Lightning or the common F-150 low-cost by any suggests, but the comparatively small price disparity among the two is noteworthy.
The Chicago Automobile Exhibit was our initially probability at seeing it up close and in-person. Although oogling it around the stand, we caught up with Darren Palmer, standard manager of Ford’s Battery Electrical Cars division, to uncover out how Ford managed its pricing. The solution is mainly a very simple one particular — scale — but there are a couple of other selections Ford made to get the Lightning to in which it needed to be that we’ll explain afterwards, too.
“But then we function on how we get it for the appropriate price tag, due to the fact I preferred it at a rate that is in fuel cost or close by,” Palmer states. “Because then the barrier is absent. The psychological barrier in the thoughts. At the time they’ve flipped, they’ve absent for it, they hardly ever want to go back again. But obtaining them to flip, for the reason that their latest truck will work fairly well, it is tricky.
“So I understood I experienced to crack that barrier,” Palmer continues. “So the prime half of this truck has a scale of 4 million models. That seat, we get 4 million of. We get the ideal cost in the business. The front trunk, aside from the one of a kind parts, the whole relaxation of the truck, we get 4 million units.”
The secret to a very low value isn’t significantly of a key, genuinely. It’s staring you appropriate in the experience with the giant F-150 body and inside that is rarely transformed from the gasoline F-150 that is the very best-providing car in the state nowadays. A huge quantity of pieces employed in each other F-150 are also applied in the Lightning, offering Ford scale for an electric pickup that they really do not even offer in scale however. It just helps make feeling.
“The frame at the base is all-new with all-new suspension, but it is through the exact supplier who helps make our other frames,” Palmer says. “And they’ve got the facility, so we function with them to make the all-new body, but at a acceptable price tag stage, given the fact they develop a million frames for us.”
The checklist of components sharing goes on, but what about the highly-priced electric powered parts and battery pack?
“And then share the motors and ESCs, speed controllers, charging chargers and the battery with many other vehicles in our portfolio,” Palmer goes on to say. “The upcoming-era of SUVs coming, the more substantial vehicles, and the SK Innovation batteries. So we get great scale, and we share the elements and technologies in them, which implies we get terrific price in the electric method.”
Certainly, Palmer is generally saying that there will be a lot more electric vehicles and SUVs in Ford’s lineup that use the battery and electrical motors in the F-150 Lightning. Which is enjoyable to listen to, seeing as how all these parts are nearing creation-completely ready standing. Additional significant Ford and Lincoln EVs are undoubtedly on the way. He went on to guarantee us that Ford will indeed be generating a profit on the Lightning. Otherwise, the bosses wouldn’t approve these types of a venture, Palmer told us.
There’s 1 past point that Palmer pointed out that aids with the price tag and graphic of the truck in the starting. We requested him why the Lightning was only readily available in a one configuration, and not the unending amount of options provided on the gasoline F-150.
“Number one, this is the most popular configuration by far — that is a 5.5-foot box, total-sizing truck and Supercrew — which is one that made it effortless,” Palmer suggests. “Secondly, the price tag-conserving for using some of these issues out, it is not worth it to the buyer at that selling price point at the instant. We’re currently cheaper than fuel. We’re by now giving what most individuals want. We really do not want it but. One working day in the potential, we may perhaps go for it. We’ll see how it goes, but we did not will need it just nonetheless. These are gonna be persuasive as is. Afterwards on, we’ll see in which need stays.”
Alternatively clearly once again, supplying the Lightning in comparatively handful of configurations will help Ford keep the value in look at. It also permits Ford to publicize the Lightning as the mother-of-all F-150s. Considering the fact that there is no simple rear-travel model, Ford can say that the Lightning (no issue what one you decide on) beats the gasoline truck in several critical functionality metrics like ability, acceleration and other capability types.
In the finish, we have the gasoline F-150’s scale to thank for letting the electric powered model’s value.
“All all those with each other,” Palmer concludes, “means we can supply a products at a price lessen than any person.”