The base model Ford F-150 Lightning EV only costs $40,000, and this week the official EPA rating emerged confirming the promised 68 MPGe and an estimated 230-miles of range. So, is the F-150 Lightning Pro EV a good deal considering the price and its competition?
During the initial unveiling in mid-2021, Ford suggested its first EV truck would be offered in two battery versions: 230 miles (Standard Range battery) or 300-320 miles (Extended Range battery). The official window stickers recently leaked online, confirming that Ford has hit those target numbers.
Unfortunately, according to Ford's online configurator, you'll have to spend over $70,000 to get the 320-mile model. And while that's certainly not cheap, buyers can get the entry-level truck (oddly named the "Pro") for only $40,000. With EV tax incentives, it'll end up around $33k, making it more affordable than any other EV truck on the market and cheaper than Ford's capable 4X4 gas-powered F-150.
So, yes, the F-150 Lightning Pro is a screaming good deal, causing pre-orders to go through the roof, and here's why.
For starters, when you compare the F-150 Lightning to the only other electric truck competition, the Rivian R1T, it matches up extremely well while costing significantly less money. Rivian's truck costs double due to recent price increases, coming in at $79,000.
Keep in mind that the Rivian R1T is a premium luxury electric truck, while the "Pro" F-150 Lightning is the budget work truck from Ford Motors, meaning it won't be fancy inside. Still, $80k is a lot of money. Moreover, according to the EPA's testing, Rivia's R1T is only 2-3% more efficient than the F-150 Lightning Pro. The Rivian can go over 300-miles on a charge, while the Lightning can't, but it's hard to argue with its starting price tag and the 68 MPGe rating.
Secondly, the F-150 Lightning Pro's dual-motor AWD drivetrain delivers 426 horsepower and 775 lb-ft. of torque, which far outclasses the gas-powered F-150 4X4 four-door Crew Cab costing $42,000. In fact, those specs almost match the high-end Ford Raptor.
Again, it's important to remember that the only way to get Ford's 320-mile version of the F-150 Lighting is to spend significantly more money. Still, for $40,000, the base model is an excellent package that should have the competition worried.
Speaking of competition, Tesla recently shelved the Cybertruck until sometime in 2023, and the Chevy Silverado E won't arrive until early next year either. Essentially giving Ford plenty of time to own the market with its highly affordable, capable, multi-use electric truck when it starts shipping in May.