Ford Says Electric F-150 Will Start Under $40,000. It Can Also Power Your Home [View all]

There was some lofty rhetoric when Ford and the United Auto Workers union revealed the all-electric F-150 Lighting pickup in Dearborn, Mich., on Wednesday.

A solemn voiceover declared it "an electric truck that can match the ambitions of this nation."

Ford CEO Jim Farley made a simpler case: "It hauls ass and tows like a beast."

Ford is touting the much-anticipated vehicle as not just a pickup, but a mobile power plant — with a price tag designed to draw mainstream attention.

The Lightning has a starting price of just under $40,000, lower than what was widely expected, making it roughly competitive with gas-powered pickups (which currently average more than $50,000).

When you factor in a federal tax credit, which Ford qualifies for and Tesla no longer does, it's the cheapest electric pickup confirmed so far.