Ford F-150 Lightning debuts with a $39,974 starting MSRP, up to 300 miles of range, and 563 horsepower

• Ford revealed its long-awaited electric pickup on Wednesday: the F-150 Lightning.
• The truck starts at under $40,000 but can cost up to $90,000 for a bigger battery or a fancier trim.
• The F-150 Lightning goes on sale in spring 2022.
• See more stories on Insider’s business page.

Following years of speculation and anticipation, Ford on Wednesday took the wraps off of its debut all-electric pickup truck: the F-150 Lightning.

The battery-powered version of America’s favorite truck offers extra performance and some added functionality over its gas-powered siblings but comes in a familiar package. It’ll go on sale in mid-2022 with a starting MSRP of $39,974 and is available to reserve now with a $100 deposit.

That $40,000 gets you a bare-bones work truck, while the cheapest consumer-oriented model – called the XLT – costs $52,974 and up. Pricing can stretch to $90,000 for customers who opt for a larger battery or a fancier Lariat or Platinum trim.

More powerful than any F-150 in Ford’s current lineup, the F-150 Lightning promises to churn out up to 563 horsepower and 775 lb-ft of torque when equipped with the optional larger battery. Extended-range models can also tow up to 10,000 pounds and hit 60 mph in four seconds and change. All Lightnings come with dual electric motors and four-wheel-drive.

The base model targets an EPA-estimated range of 230 miles, while the extended-range truck should be able to travel 300 miles on a full battery, Ford says. Both those figures will surely be greatly diminished when a heavy trailer or payload is added into the mix, but that shouldn’t matter much to folks who buy trucks more for style than necessity.

Still, Ford understands this is something customers are concerned about, so it developed a real-time range calculator that tells drivers how far they can go based on factors like weather conditions, trailer weight, and how much stuff is in the bed. Ford says the F-150 Lightning can recoup from 15% to 80% battery in 41-44 minutes when plugged into a DC fast-charging station.

Read more: Ford’s CEO reveals how it beat flashy electric-truck rivals to market with its upcoming $40,000 F-150 EV

In the pursuit of making the F-150 Lightning “distinct, but not different,” Ford designed the truck to look pretty much the same as its combustion-engine models, inside and out. The most notable exterior differences are the Lightning’s closed-off grille and LED light bars in front and rear.

The F-150 Lightning shares a cab with the rest of the 14th-generation F-150 lineup, so it offers the same cool options like a fold-out work surface and seats that recline to 180 degrees. But the F-150 Lightning also has some unique features.

For instance, the truck can power things like TVs, camping equipment, and tools through 11 outlets spread throughout the bed and interior. It also has the optional ability to feed power back into a customer’s home in the event of a blackout. A massive frunk – the largest in the industry, Ford says – adds space for items customers can’t fit in the back or cab.

Following the larger trend toward bigger and bigger screens in EVs, the Lightning gets a 15.5-inch center touchscreen on higher trims. As expected, the truck comes standard with many of Ford’s latest tech features like a 360-degree camera, navigation, and compatibility with Apple CarPlay and Android Auto.

BlueCruise, the company’s advanced driver-assistance suite that allows for hands-free driving on some highways, is optional on Lariat models and comes standard on the Platinum trim.

Ford will build the truck at its new Rouge Electric Vehicle Center in Dearborn, Michigan. It’s a key step in the company’s transition toward EV production and comes as part of a $29 billion investment in electric and autonomous vehicles through 2025.