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Ford's Battery Costs Prompt $8K Price Hike on Popular EV

Raw material prices for batteries have doubled.

As a litmus test for its electric line, Ford’s Mustang Mach-E was so insanely popular that the automaker had to shut down orders of its 2022 model year way back in April citing inability to meet further demand.

And for those who have been waiting patiently for the 2023 model year banks to reopen, there’s a not-so-happy surprise in store: Ford has announced a new markup on some trims, and it ain’t pretty.

Recently Ford revealed that it would be hiking the price on the crossovers depending on the options, starting at $3,000 and going as high as $8,500 and the final price tag all depends on the battery. Ford said in the press release that the updated pricing is due to “significant material cost increases, continued strain on key supply chains, and rapidly evolving market conditions.”

According to a CNBC report, raw material prices for batteries have doubled since the start of the pandemic, to the point where it’s sent some Mach-E extended range models over $70,000 starting. This follows Ford’s recent announcement of similar pricing changes for its also vastly popular F-150 Lightning pickup.

Ford attempts to downplay the pricing changes in its recent announcement by focusing on the positive changes that continue to impact its EVs – among them, improvements in range. Ford says that, starting this Fall, its premium range vehicles will feature an EPA-estimated range of 290 in all-wheel-drive, which is an increase of 13 miles from previous versions.

Ford has also noted that its Co-Pilot360 Driver Assist Technology is now standard across the Mustang Mach-E lineup and that it’s added two new colors: Carbonized Gray Metallic and Vapor Blue Metallic. Hopefully this is enough to ease the pain of the price increase, but something tells us it still stings a little.

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