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Fortune

Chris Morris

Tesla might have just kicked off an EV price war as Ford slashes the cost of the Mustang Mach-E

Ford Tesla Inc.

(Credit: Roland Krivec—DeFodi Images/Getty Images)

Tesla’s surprise decision to slash the price of some of its vehicles by 20% earlier this month is starting to have a ripple effect at other automakers.

Ford, on Monday, announced it would lower the price of its Mustang Mach-E electronic vehicle by an average of $4,500 per car. (Actual reductions will range from $600 to $5,900.)

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