Ford slashes prices of F-150 Lightning trucks, base variant to cost 17% less

(Reuters) – Ford Motor (NYSE:) on Monday slashed the prices of its popular electric F-150 Lightning trucks, with the base variant now starting at about 16.6% less, amid an electric vehicle (EV) price war started by market leader Tesla (NASDAQ:).

The move also comes as some legacy automakers struggle with slowing EV sales, as Tesla’s move to cut prices led to an accumulation of rival EVs at dealers.

Ford, which has been pushing to shift to more EV models, said on Monday it had lowered the prices for all variants of the Lightning model.

Ford’s base Pro variant will now cost customers $49,995, compared to its prior price of $59,974, while the higher end Platinum model will cost about 6.2% less, at $91,995.