Ford is to increase production and cut prices of its flagship electric SUV to remain competitive in the electric vehicle marketplace, just weeks after Tesla’s decision to cut prices for its EVs in the US and Europe.
“We are not going to cede ground to anyone,” Ford chief customer officer Marin Gjaja said. “We are producing more EVs to reduce customer wait times, offering competitive pricing and working to create an ownership experience that is second to none.”
Ford’s move for its Mustang Mach-E SUV follows Tesla’s announcement earlier this month that it will cut prices by up to a fifth across the US and Europe to stimulate demand for its cars amid an economic slowdown and increased competition in the sector.
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