Ford (NYSE:F)
On Wednesday, Ford (NYSE:F) announced they would reopen their order banks for the all-electric Mustang Mach-E. Following the completion of plant upgrades intended to support a production ramp in the latter half of 2023, the automobile manufacturer based in Detroit is taking action.
The EPA has predicted that the Mustang Mach-E will have an enhanced range for standard-range battery models, with a targeted range of 250 miles for RWD and 226 for eAWD. One anticipated improvement for the Mustang Mach-E is an increase in range.
It is important to note that the lithium iron phosphate battery type will now power all standard-range vehicles. Because of this modification, the eAWD configuration can gain an extra 45 horsepower. The intended EPA range estimations for both the normal range RWD and eAWD versions have been improved. In addition to having a longer range and greater power, standard range models can charge to 100% through AC home charging more often. DC rapid charging to 80 percent battery capacity from 10 percent takes 33 minutes while the vehicle is moving, which is a 5-minute decrease compared to earlier standard range versions.
Ford stock overall strategy to expand the production of electric cars and make them more accessible and cheap for consumers includes increasing production of the Mustang Mach-E in the second half of this year. This is a component of the plan.
Additionally, Ford reduced the price of the Mach-E by an amount ranging from one thousand to four thousand dollars, depending on the configuration. Depending on the model, the fully electric SUV will have beginning costs ranging from $42,995 to $59,995. In addition, Ford indicated that the Mustang Mach-E is eligible for federal tax credits under the Inflation Reduction Act for $3,750 in 2023.
During the middle of Tuesday’s trading session, the price of Ford stock dropped by 3.15%.
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