Ford plans to use the Mustang badge on other future products
- by Patty Hardy
- in Business
- — Nov 19, 2019
With Ford (F) debuting its Tesla (TSLA) rival - the all-electric Mustang-inspired Mach E SUV on Sunday - Elon Musk praised the for automaker despite the competition.
Be warned-this is NOT your father's Mustang.
That means for now, for all intents and purposes, the most money you can pay for a Mach-E is $60,500. However, as the methods of modern automotive engineering advance, more and more manufacturers are moving towards electric vehicles. The vehicle will come with a max battery range of 300 miles and a massive 98 kWh battery (the Tesla Model 3 battery is 75 kWh for comparison). Mercedes, Porsche, Audi, Jaguar, and other luxury brands have all released electric models.
"The Mustang Mach-E wholeheartedly rejects the notion that electric vehicles are only good at reducing gas consumption", said Hau Thai-Tang, Ford's chief product development officer.
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For example, while electric cars in the first decade of the new millennium became famous for taking whole days and nights to fully charge, the Mach-E can charge up to 47 miles in just ten minutes at a charging station.
Starting Sunday night, anyone can reserve a spot in a digital line for the Mustang Mach-E with a (refundable) $500 deposit. "We don't want to take a Russian doll approach, where you can't tell them apart other than the size of the auto, but we want a family feel where a Ford EV starts to build off this concept", he said.
The SUV has echoes from earlier Mustangs, including a long hood, the rear haunch design and "aggressive" headlights, according to a Ford description. The Tesla SUV released past year requires at least $80,000, with the electric Porsche Cayenne coming in at not much less.
"Calling the Mach-E a Mustang stings of corporate hubris and the pillaging of history", he said. The fancier Mach-E GT Performance Edition begins at about $60,000.
