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The Drive Electric YouTube channel takes a dive into how much it would cost to replace the battery in the Lightning.
From that were able to find out for an extended range Lightning it would cost around $4,400 USD per battery module to replace and $35,960 USD to replace the entire battery pack. To replace the battery pack would also cost around $675 USD in labor costs.
For a standard range Lightning it would cost $32,086 USD for the entire battery pack.
For comparison they say to replace a 5.0L Coyote V8 would cost a total of $13,264 USD. $10,218 for the engine and $2,025 for labor