Ford Shares Tumble After Company Slashes EV Prices To Match Tesla Price Cuts

Five days after we reported that Tesla was accused of ‘weaponizing’ price cuts in order to crush their competition in the electric vehicle space, Ford announced priced cuts for their electric Mustang Mach-E along with several other models ‘across the board.’

The company will also increase production, “underscoring the company’s commitment to lead the EV revolution by increasing the value of its EVs for customers,” according to a Monday press release.

“We are not going to cede ground to anyone. We are producing more EVs to reduce customer wait times, offering competitive pricing and working to create an ownership experience that is second to none,” said Marin Gjaja, Chief Customer Officer, Ford Model e. “Our customers are at the center of everything we do – as we continue to build thrilling and exciting electric vehicles, we will continue to push the boundaries to make EVs more accessible for everybody.”