ford is beginning its pivot toward electrification by closing a 46yearold engine factory in suburban detroit that produces big v8 engines for the mustang shelby gt350 ford motor co which pioneered the racy ponycar body style 55 years ago will use the mustang name and insignia on an electric crossover utility vehicle coming next yearthe automaker said its expanding the mustang stable for the first time with a model that will lead its charge in the electricvehicle market dominated by tesla inc the batterypowered mustang mache will be unveiled nov 17 at an event preceding the los angeles auto show advt the launch marks the first real milestone in fords increased emphasis in electrification and more importantly marks an increased effort by the legacy us automakers to be relevant in electrification dan levy a credit suisse analyst wrote in a report thursday for all the competition entering the market we are still awaiting the ev that will be a true competitive threat to model 3 especially in the usford is spending 11 billion to roll out 40 electric and hybrid vehicles by 2022 its employing a strategy of electrifying its icons first with the mustang electric crossover and then with hybrid and batteryelectric versions of its topselling f150 pickup truck the automaker aims to show its evs can be fast and tough and arent just socalled compliance cars intended to meet morestringent environmental regulationsford is beginning its pivot toward electrification by closing a 46yearold engine factory in suburban detroit that produces big v8 engines for the mustang shelby gt350 the united auto workers now voting on a new contract with the automaker is concerned the switch from gasoline to battery power endangers employment of 35000 union memberstesla has commanded a dominant share of the us electricvehicle market thanks to the model 3 sedan which starts at 39490 premium brands have priced models including the audi etron jaguar ipace and mercedesbenz eqc too high to snare many buyers credit suisses levy said lowerpriced entries including the hyundai kona kia niro nissan leaf and chevrolet bolt have struggled because they cost roughly 15000 more than comparable models powered by internal combustion engines advt fords batteryelectric vehicle should provide a more compelling alternative at the model 3 price range than the other comps especially given the performance focus said levy who rates ford a buy and tesla a sell however the ultimate proof point of its success will be if it can truly take bev share from the model 3 far from guaranteedford shares rose as much as 06 to 886 shortly after the open of regular trading thursday the stock is up 16 this year read alsoford and gm sacrifice loyal customers by ditching small cars reportford recalls over 165000 f150 pickup trucks in north america bloomberg published on nov 15 2019 at 0750 pm ist telegram facebook copy link be the first one to comment comment now comments comment now read comment 1 all comments post post find this