From TechCrunch, May 2:
Ford cut the price of its all-electric Mustang Mach-E by as much as $4,000 while adding range and other features — the latest move in an EV price war sparked by Tesla.
Ford said Tuesday it is reopening its order book and preparing to ramp production of the vehicle in the second half of 2023, following factory upgrades. Ford expects to produce 130,000 units at the plant in 2023. By the end of the year, its annual production run rate will be over 200,000, according to a spokesperson.
This is the second time since the beginning of the year that Ford has cut the price of the Mustang Mach-E.
The cuts come as competition for EV buyers heats up. It also follows a quarter of lagging Mustang Mach-E sales, which fell 20% in the first quarter from the same year-ago period.
Ford reported Tuesday afternoon — hours after announcing the price cuts — that it earned $1.8 billion in net income in the first quarter, a rebound from the $3.1 billion loss in the same quarter last year that was driven by sales of its legacy F Series pickups, premium models and fleet sales. Ford reaffirmed its guidance for full-year adjusted earnings of between $9 billion and $11 billion and about $6 billion in adjusted free cash flow.
Shares fell 2.16% in after-hours trading despite the company’s positive quarterly result....
....MUCH MORE
On batteries it was a little over a year ago that we posted "Tesla's Pivotal Move In Battery Chemistry (TSLA)." That was Reuters catching up with something Mr. Musk had been pursuing for a half-decade. That post has links to quite a few of our earlier post as well. If interested in the newer stuff there's April 7's ""Australia is quitting coal in record time thanks to Tesla" (TSLA)" and February 15's "The New Ford - CATL Battery Plant Will Produce Lithium - Iron (look mom, no cobalt) Batteries (F; TSLA)".
Quite amazing compared to the state of the art/state of the market just ten years ago.
