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2023 EV models’ cost lowered

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DETROIT – Ford Motor Co. announced Monday that it’s dropping the price of some 2023 Mustang Mach-E SUV models by thousands of dollars, just weeks after its primary competitor Tesla also cut the cost of its electric vehicles (EVs).

“We’re not going to cede ground to anyone,” Marin Gjaja, chief customer officer for Ford Model e, told reporters in a conference call. “We’ll continue to push the boundaries to make EVs more accessible for everyone.”

Ford said it has a new electric vehicle supply chain coming online, and the automaker is ramping up production that will allow for faster sales, deliveries and lower prices.

Building more vehicles lowers cost for the company because supplies are purchased in bulk and the average cost per vehicle drops, said Gjaja. Commodity costs are coming down, too, he said.

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