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Ford’s premier electric truck, the 2022 F-150 Lightning, is facing its first recall and the brand stated buyouts are no longer an option.
Ford’s Electric Hurdles and Changes Continue
The F-150 Lightning is not only Ford’s first electric truck, but essentially the only electric truck on the market aside from the Rivian R1T. The Lightning has already accrued over 200,000 preorders and some production models are slowly making their way out onto public roads. However, Ford’s electric truck is facing its first hurdle – itself. A flaw in the truck’s software has been found that has resulted in a recall from Ford and a subsequent update in the coming days. There is also an update from Ford concerning the lease buyout option on their electric vehicles (EV), or lack thereof.
Ford F-150 Lightning Recall
Ford has issued a recall on nearly 2,900 of its all-new 2022 Ford F-150 Lightning all electric pickup trucks. 2,666 of the recalled models are based in the United States and 220 are in Canada. The issue with the trucks lies within its tire pressure monitoring system. The low pressure warning light may not illuminate when needed and suggests an incorrect recommended cold temperature tire inflation of 35 psi instead of the actual recommended amount of 42 psi.
Driving with low pressure in the tires or under pressurizing the tires below the recommended psi can result in poor handling and can lead to the possibility of losing control of the truck. Not having the correct psi therefore increases the potential of a resulting accident in this 6,015-pound truck. Thankfully, there haven’t been any recorded accidents or injuries as a result of the software glitch.
Ford has instructed its dealers to update the 2022 Ford F-150 Lightning’s Body Control Module software on any undelivered vehicles on their lot and will offer any customers who have already gotten behind the wheel of their truck an immediate fix at their local dealership that takes only about 20 minutes to complete. Ford also plans to send out an over-the-air update to correct the software issue in the next 30 days for all current Lightning trucks.
No Option to Buyout After Lease on Ford EVs
As of June 15th, customers can no longer purchase their Ford Mustang Mach-E, E-Transit, or F-150 Lightning at the end of their lease in 38 states with the rest to soon follow. Ford has removed the end-of-lease buyout option for their EVs as a part of their plan to keep these used EV models in the Ford network for longer. Ford intends to recycle the used batteries and any additional materials from these vehicles.
This news is to be expected, as the auto maker had previously introduced a $22 billion electrification strategy that included the creation of the Ford Ion Park global battery center in Romulus, Michigan. The new facility is dedicated to creating high-volume battery cells, produce better EV range, reduce costs on EVs, and will help in optimizing different aspects of the battery supply chain. That last note specifically points to the previously mentioned battery recycling intentions, but it will also delve further into mining practices for the materials that make up EV batteries.
Ford Credit allows EV leasing customers to easily replace their outgoing vehicle with a brand-new Ford EV at the end of lease, but for those that entered a leasing agreement prior to June 15th, you still have the chance to buyout your used EV. Buying out a vehicle after a lease contract expires can be lucrative, as the residual value at the beginning of the original contract can be lower than that of the current market value. However, while that buyout option may be beneficial for your typical gas-powered car, EVs typically degrade over time in efficiency and lose a portion of their battery’s charging capacity. So maybe this change from Ford could be considered as more of a positive note.
