Ford Aiming to Triple Production of Electric Mustang by 2023

United States based automotive manufacturer Ford Motor Co. (F) is aiming at tripling production of its all electric Mustang Mach-E SUV by the year 2023 for North America and Europe, this means that the company will be producing over 200,000 units of the car annually.

This announcement was made by the company’s chief executive officer, Jim Farley. “It’s hard to produce Mustang Mach-Es fast enough to meet the incredible demand, but we are sure going to try,” tweeted the CEO.

Car manufacturers have been in a rush to enter the electric vehicle market early in time so as to have an upper hand Ford joins the band wagon of notable auto manufacturers like Tesla Inc. (TSLA), General Motors Co (GM) and German automotive manufacturer Volkswagen AG (ETR: VOWG) in the race towards vehicle electrification.

About one week ago, a high ranking executive from Ford announced that the company was aiming at ramping up its electric vehicle production to around 600,000 in the next two years including its Lightning pickup and E-Transit van.

The chief operating officer of Ford North America, Lisa Drake said they have been experiencing an increasing demand for its F-150 Lightning pickup, with retail reservations approaching 200,000.

 

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