The Ford F-150 Lightning is the electric vehicle version of the Ford F-150, the bestselling truck in the United States. Like the traditional internal combustion engine-powered F-150, the F-150 Lightning is worth buying and in this article we will go over why we think it is and why you might also think so.
The Ford F-150 Lightning is worth buying because it offers a combination of powerful performance, modern technology, practical utility and high resale value. With its electric powertrain, it delivers quicker acceleration than a gas-powered truck with more power and torque, a quiet and smooth ride, and lower operating costs than a gas truck. Additionally, it is better for the environment.
By any standard, the F-150 Lightning is a great vehicle and has been hailed as the Best Electric Truck of 2023. There are two battery variants of the F-150 Lightning. The standard F-150 Lightning battery allows for a range of 240 miles, an improvement over the previous year’s model, which had 230 miles. The extended-range battery version F-150 has a range of up to 300 miles on a single full charge while also delivering more power.
How Powerful Is The Ford F-150 Lightning?
All Ford F-150’s have two electric motors with either of two battery packs: the standard and the larger Extended-Range battery. With the Extended-Range battery, the truck’s motors can generate 580 horsepower and 775 pound-feet of torque, which can power the Lightning to 60 mph in just under 4.0 seconds. Only the 3/4 ton diesel trucks have more torque than this half ton truck – the F-250 diesel generates 935 pound-feet of torque.
So with the Lightning you are getting THE most powerful half ton Ford pickup available. Of course if you compare it to other electric trucks, you will find out that there are more powerful ones out there, like the Hummer EV which generates an insane 1000 pound-feet of torque.
Is The Ford F-150 Lightning Fast?
The Ford F-150 Lightning with the extended range battery can accelerate from 0 to 60 mph in under four seconds. Lightning’s earlier model has a class-leading acceleration from 0 to 60 mph in 4.5 seconds for 0-60 mph. It is listed as the third fastest-accelerating truck among 2022 production models.
The fact that it is not light also helps it keep the traction very well. Most trucks have a problem with traction because the back is so light and unless you have it in all-wheel drive mode the truck will spin the wheels instead of sticking to the road. The Lightning has all-wheel drive but also it’s weight comes from the giant batteries hanging under the floor and bed of the truck and those things are not light.
How Much Does It Cost To Charge The Ford F-150 Lightning?
As an electric vehicle, the F-150 Lightning’s cost of operation is not measured in terms of the cost of gas. It is computed as the cost to charge the car. Like the cost of gas, electricity varies depending on location. You can set up your vehicle at home or a public station.
At today’s electricity prices, you can expect to spend under $14 for a full charge. Because you are not going to use up the entire charge every day, this translates to under $1000 per year to recharge the Ford F-150 Lightning, or approximately $69 per month. For models with the extended range battery, it costs less than $19 per charge. I wrote an article explaining and calculating the cost of charging a Ford F1-50 Lightning and how I arrived at the $69 per month cost, you can read it here: How Much Does It Cost To Charge Ford F-150 Lightning At Home? Cheaper Than Gas?
In contrast, the operation cost of Ford F-150 with an internal-combustion engine can cost from $3,000 to $6,000 per year.
Charging an electric vehicle takes longer than loading a full tank of gas. The F-150 Lightning has an 80A Ford Charge Station Pro as standard equipment. This allows the owner to charge the truck at home. Using the home charger takes 8 hours to charge the Lightning, from 15% to 100%. Using a DC fast charging station capable of 350A, the Lightning can be charged from 8% to 100% in approximately two hours.
What Is The Tax Credit On A Ford F-150 Lightning?
Existing regulations give tax credits when you buy an electric vehicle. When you buy a Ford F-150 Lightning, the tax credit is worth up to $7,500. There are two tax credits, and each is worth $3,750, with specific requirements for each of the credits.
There is a battery portion of the credit worth $3,750. To avail of the credit in 2023, 50% of the vehicle’s battery must be assembled or manufactured in North America. This requirement increases yearly by 10% until it reaches 100% of the battery in 2029.
The other half of the credit, worth $3,750, is called the requirement of the critical mineral. The provision requires that a specific percentage of the battery’s critical minerals must be mined, extracted or processed within the United States or in a country with the US having a free-trade agreement. The critical materials percentage for 2023 is 40%, which will increase until it reaches 80% in 2027. The percentage requirement remains unchanged until 2032.
Other considerations related to the tax credit include the availability of credits for the buyers of a certain manufacturer. The tax credit rules specify that the manufacturer must have less than 200,000 electric vehicle units sold for the buyers to avail of the credit.
What State Rebates Are Available On Buying A Ford F-150 Lightning?
Besides the availability of tax credits for the buyer, some states provide rebates when the electric vehicle is bought in that state. If you live in California and buy the Ford F150 from a dealer in California, you are entitled to a rebate worth up to $2,000 and a $750 Clean Fuel Reward.
Will The Ford F-150 Lightning Hold Value?
The Ford F-150 is expected to hold value through at least the first 36 months. According to experts, the base model Ford F-150 Lightning Pro has a residual value of 60% of the purchase price. Putting this into perspective, the gas-powered Ford F-150 XL has a residual value of 63%, while the F-150 PowerBoost Hybrid has a 36-month residual value of 65%.
Having said that, because of the shortage of these trucks and the enormous demand on them right now (in 2023), the value of a Ford F-150 Lightning almost doubles as soon as you take delivery of it. It will hold its value until the shortages are over and once the delivery times get under control you can expect to have 1 to 2 years of crazy value.
The Ford F-150 Lightning is an electric vehicle that has exceeded expectations. Although it rides on the popularity of the F-150 model line, it is a solid performer. The truck has exceeded company expectations and has been wholly accepted by the mainstream market.
A waitlist for vehicle buyers is expected to fill up in 2 to 3 years. If the trend continues, the F-150 might quickly become the EV truck with the most vehicles delivered. Ford is putting all efforts into producing about 150,00 F-150 Lightnings.
Performance-wise, the Ford F-150 Lightning has gotten faster, better and stronger. It is easily one of the fastest trucks on the market. The additional power can help drivers in hauling a heavier load. The batteries have also made it possible to have better mileage and improved ability to run longer distances.
The future of electric vehicles is based on ordinary people’s adoption of this type of vehicle. These consumers are loyal to an established brand and would continue buying that brand and model through the years. For a wider adoption, it is also important that new EV buyers should see the benefits of the electric vehicle, especially when compared to gas-powered vehicles.
The Ford F-150 Lightning continues the name of a venerable and best-selling truck. The model has sold the most vehicles in its class every year for the past 40+ years. The Lightning has built on this fan base, as well as on the trust of its users. Delivering an electric vehicle with almost the same capabilities as an internal combustion engine is difficult. However, the F-150 Lightning is proof that electric vehicles can go mainstream and have the same functionality as their predecessors.
For electric vehicles to be successful, these vehicles have to be used in everyday environments. The Ford F-150 Lightning promises a seamless transition to all kinds of electric vehicles.
Valik loves tinkering in the garage and is currently restoring a 2000 GMC Sierra 1500 truck. He also writes about the progress on this blog. When not in the garage, Valik is also a web developer and a blogger. I know, strange, a hand in two completely different worlds. And that is the way he likes to keep it.