Ford Motor Company F is one of the few heritage automakers that has had better success with electrification.
What happened: Ford announced Wednesday that it has built 150,000 Mustang Mach-E within about two years of its first sale. The 150,000th vehicle was built at the stamping and assembly plant in Cuautitlan, Mexico, which is currently being upgraded.
The Dearborn, Michigan-based automaker said almost all of its electric vehicle growth so far has come from customers replacing combustion-engine vehicles with electric versions. The Mach-E will be available in 37 countries worldwide by 2023, up from 22 in 2019, the year it launched. Markets that recently started selling the model are New Zealand, Argentina and Brazil.
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When the milestone news was shared by one Tesla Inc. TSLA managing director Elon Musk‘s followers, the billionaire praised the heritage automaker.
“Congratulations,” he said, tagging the CEO of both Ford and the company Jim Farley.
Ford is the second largest electric vehicle manufacturer in the US this year based on registrations. S&P Global Mobility report. In contrast to Tesla’s dominant 65%, Ford is a distant second with a 7% share.
Price promotion: Ford ended Wednesday’s session 1.09% higher at $13.90, according to data from Benzinga Pro.
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