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Shares of Ford were up 2% in afternoon trade.
The base variant of Ford’s electric F-150 truck now starts at $59,974, excluding shipping and taxes, up nearly 50% from its starting price when launched last year.
The Detroit automaker resumed production of the F-150 Lightning earlier this month after recalling 18 electric trucks due to a battery-cell manufacturing defect.
Ford’s hike comes after EV maker Tesla (NASDAQ:TSLA) Inc ignited a price war this year by aggressively trimming prices.
A week earlier, Ford said its electric-vehicle business unit was expected to lose $3 billion this year, but remained on track to achieve a pretax margin of 8% by late 2026.
The company was not immediately available for further comment on the price increase, which was first reported by Automotive News on Thursday.
