Ford to cut prices of Mustang Mach-E, raise production levels

Ford to cut prices of Mustang Mach-E, raise production levels

(Reuters) -Ford Motor Co said on Monday it was cutting prices of its electric crossover SUV Mustang Mach-E by as much as $5,900 per vehicle, weeks after rival Tesla Inc slashed prices globally on its electric vehicles by as much as 20%.

Shares of Ford were down 2.6% before the bell.

The automaker also said it was “significantly” raising Mach-E production.

(Reporting by Aishwarya Nair in Bengaluru; Editing by Krishna Chandra Eluri)

ETH Bulls in the Need of Shanghai Hard Fork Updates for $1,700EUR/USD Forecast – Euro Continues Its Sideways GrindGerman Economy Contracted in Q4 Questioning Government ForecastsSHIB Bears Eye a Return to Sub-$0.0000110 on Shibarium SilenceBTC Fear & Greed Index Eyes Extreme Greed to Signal a BTC BreakoutXRP Needs a Favorable SEC v Ripple Court Ruling to Breakout From $0.42