Ford Motor Company (NYSE:F) CEO Jim Farley said Wednesday that the U.S. Environmental Protection Agency’s range estimate for the Mustang Mach-E GTs beat the automaker’s own expectation. Farley also notified that more than half of its most powerful electric crossover Mach-E GT orders are from the more expensive and the quicker Performance edition.
What Happened: As per the EPA’s range estimates, the GT and GT Performance edition can travel up to 270 miles and 260 miles on a single charge, respectively, more than Ford’s estimate of 250 miles and 235 miles.
Deliveries of both the GT and GT Performance are expected to begin later this year with the prices for the Mustang Mach-E GT starting at $59,900 and the Mustang Mach-E GT Performance Edition at $64,900, without the federal incentives.
Both the editions have 480 horsepower and all-wheel drive but the Performance Edition is faster and can clock 0-60 miles per hour in 3.5 seconds, while the GT version can do the same in 3.8 seconds.
See Also: Ford CEO Says Drag Race Between Mustang Mach E, Tesla Plaid A 'Good Idea'
Why It Matters: In May, Ford’s Mach-E sales totaled, 1,945 with 10,510 Mustang Mach-E’s sold this year so far. According to the company, with just 10 days to turn, Mustang Mach-E is essentially selling as soon as it hits dealer showrooms.
The No.2 U.S. automaker, by volume, is betting big on the Mustang-E range and has been ramping up production since beginning the sales in December last year. As per Ford’s production plan so far for the full year, Mach-Es have already overtaken the traditional Mustangs with the internal combustion engine.
Ford has so far this year built 27,816 Mustang Mach-Es and 26,089 Mustangs, as per its data released earlier this month.
See Also: Tesla Is Bleeding Battery EV Market Share To Ford's Mustang Mach-E: Morgan Stanley
Price Action: Ford shares closed 3.4% higher at $15.42 on Wednesday.
Photo: Courtesy of Ford Motor Co.
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