Breaking News
0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

Ford uses Mustang name, hoping new electric SUV will zap Tesla

TechnologyNov 14, 2019 03:53PM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters. Mustang Mach-E Pony logo

(Reuters) - Ford Motor Co (N:F) will tag its new electric sport utility vehicle (SUV) with the Mustang name, the automaker said on Thursday, seeking to entice customers into a new era by linking it to the model whose groundbreaking design in the 1960s combined sportiness and affordability.

Ford confirmed its new electric SUV will be called the Mustang Mach-E ahead of a debut event scheduled for Los Angeles on Sunday. Until now, the Mustang name has been used only on a line of sporty coupes associated with Detroit's 1960s muscle car era.

Customers in the United States, Canada and Europe can start ordering the electric vehicles on Nov. 17, Ford said.

While Mustang coupes are built in Michigan, the Mach E will be built at a factory in Cuatitlan, Mexico.

The Mach E is the first of a more than dozen all-electric automobiles the company plans to launch by 2022 with an investment of $11.5 billion as it moves away from traditional gasoline-powered cars.

Electric vehicle market leader Tesla Inc (O:TSLA) has used speed and power to sell its vehicles, along with upgradable software and big display screens.

Using the Mustang name signals that Ford intends to do the same, leaving behind the prior strategy of positioning electric vehicles as practical, "green" cars.

Competition for electric vehicle customers will intensify over the next several years as more mainstream automakers launch electric models, and Tesla expands into new market segments.

Tesla Chief Executive Elon Musk has said he will unveil a high-performance electric pickup truck at an event in Los Angeles on Nov. 21, coinciding with the Los Angeles Auto Show.

Ford and General Motors Co (N:GM) are working on electric pickup trucks as well.

In April, the No. 2 U.S. carmaker invested $500 million in electric automaker Rivian and said it planned to use the Michigan startup's platform to build a new Ford-branded electric vehicle.

Ford has also formed an alliance with Volkswagen AG (DE:VOWG_p) to use the German automaker's compact electric vehicle platform for new vehicles in Europe.

A reservation for the Mustang Mach-E can be made on Ford's website in the United States, Canada and Europe by paying a refundable deposit of $500, the company said.

Ford said it would announce reservation dates for China later.

(This story adds dropped word in first paragraph)

Ford uses Mustang name, hoping new electric SUV will zap Tesla
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments (2)
Zoltan McVeigh
Zoltan McVeigh Nov 14, 2019 8:44AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Take an icon and destroy it in an instant.
Ondřej Kála
Ondřej Kála Nov 14, 2019 7:56AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
What a way to make all the customers buying current Mustangs angry :D
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email