Grab the popcorn and settle in: The great electric vehicle price war is here. Weeks after Tesla slashed prices across its U.S. lineup, Ford is set to follow suit.
On Monday, the Michigan-based automaker announced price cuts on its electric Mustang Mach-E. The move could see consumers save nearly $6,000 on cars that compete directly with Tesla’s Model Y. In announcing the move, Marin Gjaja, Ford’s chief customer officer for its electric vehicle business, declared, “We are not going to cede ground to anyone.”
Purportedly motivating these price cuts is corporate goodwill. “Price really matters,” Tesla CEO Elon Musk said during a recent earnings call, reasoning that “there’s just a vast number of people that wanted to buy a Tesla car but can’t afford it.”
