Ford Motor Company has increased the prices of the F-150 Lightning electric pickup truck, with the base model now starting at $61,869, as first reported by Automotive News.

The automaker also said it hiked the starting price of the Lariat Standard mode and the Platinum range.

The Lariat Standard model has increased to $75,974 from $74,474 and the Platinum range raised to $98,074 from $96,874.

According to reports, Ford cited the price changes are "in response to current material costs, market factors, and supply chain constraints."

In August 2022, Ford adjusted the MSRP on the F-150 Lightning for the first time since it was revealed in May 2021. The MSRP of the entry-level Lightning Pro model increased to $48,769, including destination charges, which was about a $7,000 increase over the previous starting price.

Then in October 2022, Ford increased the price again. The MSRP for the F-150 Lightning Pro was raised to $51,974.

The latest price increase follows Ford's announcement that it has restarted production of its electric truck. Ford stopped production of the F-150 Lightning after a battery fire in February. An EV truck caught fire on Feb. 4 during a pre-delivery quality inspection in a company holding lot in Dearborn, Michigan, and spread to two other trucks.