Ford Cuts Mustang Mach E Prices Following Tesla Price Drops

Reading Time: < 1 minute

Ford is cutting the prices of its electric SUV, the Mustang Mach E. The announcement comes as the automaker ramps up production and adds new features.

Ford has said that its plan to slash the prices of its popular SUV was a part of a larger effort to protect the profitability of its electric vehicles. It said it planned to increase the number of vehicles it manufactures of its EVs this year, from an estimated 78,000 to 130,000 vehicles.

The company has also said that it plans to cut the cost of the battery it uses in its EVs by about 19%. In addition, it announced that it will open a new electric vehicle supply chain.

Ford has also made some tweaks to the EV that it builds in Mexico. Among them, it added more standard features and advanced driver assistance systems.

For the first time, the price of the Mustang Mach E will include the government’s $7,500 electric vehicle tax credit. This credit is available through March of next year.

Ford said it was also preparing to build more Mach-Es in the U.S. This would help reduce the costs of commodities and materials. Additionally, the company is increasing production capacity in order to boost its global annual production rate to 270,000 vehicles by 2023.

The latest move by Ford is a sign of the increasing competition between the company and the electric vehicle industry. Tesla, meanwhile, has slashed the price of its EVs by about 20 percent in recent weeks.