By Piero Facchin, January 30, 2023

The price war in the electric SUV market just got more intense. On Monday, Ford lowered the price of its electric crossover, the Mustang Mach-E, in response to Tesla’s recently announced price cut on its Model Y SUV. Ford is also offering reduced cost financing on the Mach-E through April 30. The price reductions range from $4,750 to $8,500, depending on the version.

“We’re not going to cede ground to anyone,” Ford’s customer manager Marin Gjaja said in a statement. Ford was already planning to increase Mach-E production this year for North America to 130,000 vehicles from 78,000 in 2022. The automaker plans to use lower-cost lithium-ion batteries from China’s Contemporary Amperex Technology (CATL) in North American Mach-Es to reduce costs and increase production.

Ford aims to increase global Mach-E production, including in China, to 270,000 units this year. This increase will help Ford be more competitive, but Tesla will still have scale and a cost advantage.

Ford has learned a thing or two from Tesla; it will reduce prices for customers who ordered a Mach-E but did not receive it and will contact those who took delivery of a Mach-E after January 1st.

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