![]() ![]() In the US, where president Donald Trump has eased fuel economy rules, EV growth will be slower, but still strong. Regulations to curb emissions will drive demand for electric vehicles over the next decade, especially in China, the world's largest auto market. "We said, 'Let's play to our strengths - performance vehicles, pickups, vans, SUVs, the things Ford knows how to do.'" ![]() "We changed our whole strategy two years ago," Ted Cannis, Ford's global head of electrification, said at a briefing on the Mach-E at the company's design studios in Dearborn, Michigan. The idea is to show that Ford’s EVs can be fast and tough and are not just “compliance cars” intended to meet more stringent environmental regulations around the world. It is part of $11.5 billion the automaker is investing to roll out 40 electric and hybrid vehicles by 2022. It's been a sports car."įord, having struggled to sell more mundane electric cars, is embarking on a strategy to electrify its icons, starting with the Mustang and following quickly thereafter with a plug-in version of its top-selling F-150 pickup. "The market obviously has gone in the direction of the SUV body type, that's what's selling. "Calling this a true sports car would be stretching it," said Jeff Schuster, senior vice president of forecasting for researcher LMC Automotive. That will test the elasticity of a brand built on low-slung speedsters. ![]() The Mach-E is not only the first electric version of the Mustang, it’s also the first time it has been configured into a sport utility vehicle. And Ford will continue to make gasoline-fueled versions of the classic muscle car. When Ford decided to abandon the traditional passenger-car business last year, it spared only one model: The Mustang.įor more than half a century, the Mustang has embodied high-octane power and unbridled strength. The Mustang is Ford's signature sports car, having sold more than 10 million units since it debuted in 1964 with simultaneous cover stories in Time and Newsweek. "That's surprising a lot of people because electrics have not had a history of making money. The Mach-E will make a profit "on vehicle one," Ford chief executive Jim Hackett told Bloomberg TV. By building the Mach-E in Mexico, where labour costs are low, and with a price starting at $43,895, the automaker says it will avoid the losses automakers typically suffer selling high-cost EVs. When it goes on sale next fall, Ford hopes to convince mainstream buyers its electrified Mustang is an alternative to the Tesla models dominating the EV market.Īnd Ford, which exited the battery-car business last year when it pulled the plug on its slow-selling Focus EV, is betting it’s cracked the code on turning a profit on plug-ins. In a splashy ceremony Sunday ahead of the Los Angeles Auto Show, the carmaker unveiled the Mustang Mach-E, a swoopy hatchback with distinctive pony-car haunches and familiar shark nose that it claims has the power to take on Porsche. Ford is reinventing one of its marquee models - the Mustang muscle car - as a battery-powered crossover to become a player in the electric-vehicle market that is expected to take off in the coming decade. ![]()
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