Elon Musk says the Ford F150 Lightning is too expensive, as Ford slashes the price to help demand catch up to increased production.
As Tesla Cybertruck’s price is up in the air, some believe this could hint at the electric pickup truck coming in cheaper than the Lightning.
Today, Ford announced price drops across its entire F150 Lightning lineup.
The electric pickup truck saw its price drop between $6,000 and $10,000, depending on the model, and it now starts at $50,000 – much closer to its original price before a major price increase last year.
Tesla CEO Elon Musk commented on the F150 Lightning price drop today. The CEO said that he believes the electric pickup truck to be a “good vehicle,” but he believes that it is priced too high for the current high-interest market:
The comment is somewhat interesting in the context of Tesla preparing to bring its own electric pickup truck to market, the Cybertruck, and that the pricing is unknown.
When unveiling the Cybertruck back in 2019, Tesla announced that the electric pickup truck would be offered in three different configurations:
- Single Motor RWD with 250+ miles of range, 0-60 mph in 6.5 seconds, top speed of 110 mph, and starting price of $39,900
- Dual Motor AWD with 300+ miles of range, 0-60 mph in 4.5 seconds, top speed of 120 mph, and starting price of $49,900
- Tri Motor AWD with 500+ miles of range, 0-60 mph in 2.9 seconds, top speed of 130 mph, and starting price of $69,900
But Tesla has since removed this pricing from its website and signaled that the prices would change when the production version comes to market.
This weekend, Tesla announced that it produced the first Cybertruck at Gigafactory Texas.
The automaker is expected to announce the updated pricing at a delivery event later this quarter.
Some people believe that Elon might be signaling that the Cybertruck will be cheaper than the Lightning. I am not so sure, but it could also mean that Elon believes the Cybertruck could be a better value.
For example, to get the longer-range version of the F150 Lightning with 320 miles on a single charge, you need to spend at least $70,000.
I doubt that we will see a Cybertruck starting at the same price as the Lightning Pro ($50,000) any time soon, maybe two or three years from now, but I can see Tesla releasing a Cybertruck for ~$70,000 with more than 320 miles of range.
That would be a win for Tesla.
But the Silverado EV will be harder to compete with a 450-mile version starting at $77,000.
I don’t know if Tesla is going to reach that price point with its longest-range Cybertruck, but I think it will try its best to do that because keeping an electric truck under $80,000 gives buyers access to the full $7,500 federal tax credit.
What do you think? Let us know in the comment section below.
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