Ford expects to triple electric Mustang production by 2023

FILE PHOTO: The Ford logo is pictured at the Ford Motor Co factory in Genk, Belgium December 17, 2014. REUTERS / Francois Lenoir

December 11, 2021

(Reuters) – Ford Motor Co expects to triple production of its all-electric Mustang Mach-E SUV to more than 200,000 units annually by 2023 in North America and Europe, Chief Executive Officer Jim Farley said in a tweet Friday.

“It’s hard to make the Mustang Mach-Es fast enough to meet the incredible demand, but we’ll definitely try.” Farley added https://bit.ly/3dEttMj.

In a hot EV market, Ford is up against long-standing rivals like General Motors Co and European carmaker Stellantis, while chasing Volkswagen and global EV leader Tesla Inc.

Last week, a top Ford executive said the company is aiming to reach annual electric vehicle production capacity of nearly 600,000 units within the next two years, including Lightning pickups and E-vans. Transit.

Lisa Drake, CEO of Ford North America, said the company’s optimism stems from growing demand for the F-150 Lightning pickup truck, with pre-orders of nearly 200,000 units.

Automotive News reported https://bit.ly/3rWEiBM earlier on Friday that Ford has delayed production of electric versions of the Explorer and Lincoln Aviator crossovers by about a year and a half to ramp up production of SUVs. The company’s Mustang Mach-E.

According to the report, Ford has told its suppliers that production of these new electric vehicles is scheduled to begin in December 2024.

Ford did not immediately respond to a request for comment on the Automotive News report.

(Reporting by Shivani Tanna in Bengaluru; Additional reporting by Shubham Kalia; Editing by Sonya Hepinstall)