Ford's electric F-150 Lightning has just become a lot cheaper

Ford's popular electric pickup truck, the Ford F-150 Lightning, is now more affordable.

The company reduced the prices on all configuration of the F-150 Lightning, including the baseline Pro model, which now costs $49,995, down $9,979 from its price just days ago.

Other configurations are also significantly cheaper, including the XLT, which starts at $54,995, the Lariat, which starts at $69,995, and the top-of-the-range Platinum, which now starts at $91,995.

While this is good news for potential buyers, it's worth noting that the prices are still higher than what they were at launch in May 2021; the F-150 Lightning originally started at $39,974.

Like many other manufacturers, including Tesla, Ford kept hiking the prices of its EVs throughout 2021 and 2022 as it battled through supply chain issues. Now, however, the company says the greater capacity at its Rouge Electric Vehicle Center factory, as well as lower raw material costs, are among the factors that enabled it to reduce the price of the truck. Upcoming competition, including from Tesla's Cybertruck which just went into production, is probably another reason why Ford is making its electric pickup more affordable.

“We’ve continued to work in the background to improve accessibility and affordability to help to lower prices for our customers and shorten the wait times for their new F-150 Lightning," Marin Gjaja, chief customer officer for Ford, said in a statement.

Ford also pointed out that early next year, all F-150 Lightning owners will be able to charge at Tesla's Supercharger locations in the U.S. and Canada.