Ford Mustang Mach-E price hiked by as much as $8,475 due to battery costs

Readers look at on a Ford Mustang Mach-E electric powered automobile exhibited at a launch party in Shanghai, China April 13, 2021.

Yilei Sunlight | Reuters

DETROIT – Ford Motor is mountaineering the starting up prices of its electric powered Mustang Mach-E crossover by far more than $8,000 for some versions, as it reopens buy banks for the 2023 product year.

The firm on Thursday explained the markups – ranging in between $3,000 and $8,475, depending on the design and battery – are because of to “considerable product price tag improves, continued pressure on vital offer chains, and swiftly evolving marketplace situations.”

The Mach-E is the most current electrical automobile to working experience a selling price improve, as raw material costs for batteries for electric autos more than doubled through the coronavirus pandemic.

The setting up selling prices for the 2023 Mustang Mach-E will now variety from about $47,000 to $70,000, up from around $44,000 to $62,000 for the 2022 design yr. Rates exclude taxes and shipping/shipping and delivery expenses.

Ford earlier this thirty day period also raised the starting charges of its electric powered F-150 Lightning pickup by between $6,000 and $8,500, dependent on the design. The automaker cited equivalent causes for all those boosts, precisely relevant to uncooked components these kinds of as lithium, cobalt and nickel that are used in batteries for the autos.

Other people automakers like Basic Motors, Rivian, Lucid and Tesla also appreciably lifted price ranges on their most recent electric automobiles.

In addition to the new pricing, Ford stated it modified options and elevated abilities for some Mach-E designs. It also is raising shipping and delivery charges on the Mach-E by $200 to $1,300 on all models.

Ford stated the greater rates will go into impact for new orders put starting up Tuesday, when buy banking companies reopen.

Customers who have present, unscheduled 2022 model 12 months orders will obtain a “non-public offer” to transform to a 2023 model 12 months automobile, the company explained. It is really not quickly clear what price tag those prospects would be offered.