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Electric Ford lowers the price, deepens the battle with Tesla

2023-08-10 09:57:00, Tech CNA

Electric Ford lowers the price, deepens the battle with Tesla

Ford has deepened the price war in the electric car market, while lowering the price of the F-150 Lightning. The American giant is aiming to increase its presence in the electric car market dominated for years by Tesla.

The Ford company has reduced the price of its F-150 Lightning model electric car by about 17%, deepening the price war with Tesla. The Detroit-based company hopes to increase its presence in the electric car market that has been dominated by Tesla for the past decade.

The decision comes days after Tesla announced that it had produced the first car for its long-rumored Cybertruck production line at its Austin plant.

Months ago, Tesla began cutting the prices of some models, leading to a decline in sales of other companies' electric cars. In the last three months, sales of Ford's electric cars fell 2.8%. Tesla announced sales growth in the second quarter.

At the beginning of the year, Ford raised the price of the electric F-150 model. Currently, the Ford firm says that the price reduction comes as a result of improvements in the field of production and the decrease in the cost of raw materials for the production of batteries.

Ford plans to triple production of the Lightning model to 150,000 vehicles a year. The price of the basic model will drop to about 50 thousand dollars, while the most complete model will cost about 92 thousand dollars./VOA





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