Ford is lowering the price of some models of its electric F-150, known as the Lightning, by as much as $10,000, the automaker announced Monday after a series of price hikes over the past two years—as the automaker seeks to compete with electric vehicle giant Tesla. 

The basic version of the F-150 Lightning will go from $59,995 to $49,995 and the platinum extended range version—the most expensive model of the truck—will go from $98,074 to $91,995, the company announced Monday. 

The Michigan facility where the Lightning is produced is temporarily closed so its annual production can be tripled to 150,000, Ford said. 

The Lightning was first released in 2021, marking a major milestone in the push for electric vehicles as the Ford F series is the nation’s most popular pickup truck line. Since then, Ford raised the price of the pickup trucks multiple times, a trend it blamed on supply issues and more expensive raw materials. When the truck first debuted, the cost of the basic version of the Lightning was $40,000. The price changes announced Monday—which the company linked to falling battery costs—bring the cost of the truck closer to what it was originally priced at. As car manufacturers work to make electric vehicles more affordable and desirable to American buyers, some car companies have adjusted their pricing. Earlier this year, Tesla—the top-selling electric car company—lowered its prices on some of its Model Y and Model 3 electric vehicles. So far this year, Tesla’s base Model 3 vehicle was lowered by 11% and its base Model Y by 20%. Meanwhile, Ford has slashed the price of its electric Mustang Mach-E. And some Ford Lightnings will be even cheaper for car buyers because some models of the F-150 truck are also eligible for $7,500 in tax credits from the Inflation Reduction Act. 

4,466. That’s how many Lightnings Ford sold in the second quarter of this year, after a fire in a just-complete truck earlier this year led production to shut down for five weeks. 

Tesla began producing its futuristic-looking Cybertruck this month, after years of delays. The company has said it plans to scale up production next year.