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Ford's electric pickup truck will cost at least $46,974.

Ford Motor Raises Electric Pickup Truck Prices Thousands of Dollars Due to Significant Rise in Material Costs and Other Factors Did. "The base model of the F-150 Lightning, called the 

Lightning Pro, will sell for $7,000 from a $39,974 price tag earlier this year," the Michigan automaker said on Tuesday. Prices will go up soon, starting at $46,974, with the truck's most expensive model, the Platinum Extended Range, priced $6,000 higher at $96,874.

Ford raises 15} Done on the same day that President Biden signed a new law to make semiconductors more accessible to automakers, needed to build new vehicles. The Science Act provides more than $200 billion to spur domestic production of computer chips, a White House official said

Ford said the rise in prices was due to the cost of batteries, even as semiconductor shortages weighed on new car production.

} "Most of this price adjustment is related to the cost of battery materials and has nothing to do with the CHIPS Act," a Ford spokesperson told CBS News. 

Ford began building his Lightning in April, and this year he delivered his first vehicle in May. The company says it has sold more than 4,400 trucks to date. 

Anyone who wants to buy the Lightning at the new price will be able to pre-order it starting next Thursday, Ford said. Customers who have already pre-ordered will pay the previous price, the automaker said. Stated. 

Ford is the latest company to raise the price of electric vehicles. Rivian, GM, Tesla all increased EV prices asmetal prices surged . LithiumThe cost of the components needed to make the battery.

But demand for EVs remains strong, even as prices rise. According to a study released last month by Motor Club AAA, nearly a quarter of Americans would like to purchase an electric vehicle as their next vehicle purchase.  interest in buying electric vehicles has surged 70% since January, according to research by automotive industry analytics firm Recurrent.

Auto industry experts say it is important to monitor electric vehicle prices as the US seeks to reduce its dependence on fossil fuels. Even if charging stations start popping up nationwide, price hikes on EVs like Tesla's could make these vehicles economically unaffordable for the middle class, experts say. I'm here. 

Ford's price hike also comes as the House of Representatives is set to vote on the Inflation Reduction Act, which will cost thousands of dollars. Tax included credits for consumers to purchase electric vehicles. However, industry groups say the current version of the invoice includes a provision that automotive batteries must be made using materials mined in North America, so most customers today will be out of credit. He said he wouldn't be covered. 

Christopher J. Brooks

Christopher J Brooks is a reporter for CBS MoneyWatch, covering business, consumer and financial topics ranging from economic inequality and housing to bankruptcies and the sports business.

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