Ford Stock Was Flat as Mustang Mach-E Production Reached a Milestone

Ford Stock

Ford (NYSE:F)

On Wednesday, Ford (NYSE:Fannounced that the business has completed the manufacture of its 150,000th Mustang Mach-E since the model first began production over two years ago. As the company scales up production of electric vehicles, almost all of Mustang Mach-growth E’s to date have come from customers replacing an internal combustion vehicle with an electric vehicle. This demonstrates that Ford stock is developing electric vehicles that meet the requirements of a diverse range of customers.

Ford is now the second best-selling electric vehicle (EV) brand, behind current market leader Tesla, because of strong demand for the Mach-E. (NASDAQ:TSLA). By October 2022, there have been over 31,000 sales of the Mustang Mach-E in the United States alone this year.

“When we added the pony to this Mustang, we knew some people would question our decision. What we weren’t fully aware of at the time was exactly how widespread the use of this automobile would become, “said Darren Palmer, vice president, Electric Vehicle Programs, Ford Model e. “It is quite exciting for me to see more and more Mustang Mach-E cars out on the road and to interact with their owners,” said the sales representative.

Deborah Manzano, Ford stock head of manufacturing, said the facility was “buzzing with activity.” “As a result of the installation of a battery line, a chassis line, and an extra assembly line, we have practically maximized the amount of space available to produce other Mustang Mach-E cars. In addition, we had just opened a brand-new paint shop. Nothing stays in the same place for very long.”

In 2023, the Mustang Mach-E will be offered for sale in 37 countries all over the globe, an increase over the vehicle’s first year of availability in just 22 nations. New Zealand, Brazil, and Argentina are among the most recent additions to the market for the Mustang Mach-E. These three countries are all part of Ford’s larger strategy to reach an annual EV production of 600,000 units by the end of 2023. They are some of the most recent additions to the market. The automaker’s goal is to begin producing more than 2 million electric cars annually by 2026 when the year 2026 will have passed.

During the middle of Wednesday’s trading day, the price of Ford stock fell by 1.35%.

Featured Image – Pexels © Julissa Helmuth

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