Ford Begins Deliveries Of Mustang Mach-E With Competitive Price, 300-Mile Range

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One of the most anticipated electric vehicles has hit the market before the end of 2020 and could be a positive catalyst for a legacy automotive manufacturer heading into the new year.What Happened: The first 2021 Ford Mustang Mach-E delivery occurred in Dallas, Texas on Tuesday, according to InsideEVs.The car from Ford Motor Company (NYSE: F) is produced in Mexico, so Texas wasn’t a surprise location for the first delivery.Deliveries in other states should start soon, with InsideEVs reporting that Mach-E buyers have received emails about their vehicles shipping.Related Link: Ford Vs. General Electric: The Blue Chip Race Back To Why It’s Important: New Ford CEO Jim Farley has put an emphasis on the company to grow through electric vehicles. The company has committed $11.5 billion through 2022 to investments in electric vehicles.The Ford Mustang Mach-E has several models and price points. The Mach-E Premium ER RWD is the first 300-mile range electric vehicle from a manufacturer other than Tesla Inc (NASDAQ: TSLA).The vehicle has a price point of $45,600 after tax credits. The cheapest Mach-E with a 211-mile range has a price point of $39,195 after tax credits.The Tesla Model Y LR with 300-mile range has a price point of $61,190. The Tesla Model 3 Perf LR AWD with 315-mile range has a price point of $56,190.The new electric vehicle from Ford is the most affordable all-wheel drive, all-electric car and has comparable range to Tesla. This car could become a bestseller quickly in the United States and Europe given its range and price point.The new vehicle from Ford was featured in a holiday commercial reuniting the Griswold family from “Christmas Vacation” and “Vacation.” Unlike Tesla, Ford is a heavy spender on advertising and could put more money into ad campaigns for the vehicle.F Price Action: Shares of Ford were up 0.17% at $8.84 at last check Tuesday. Shares have traded as high as $9.45 in the last 52 weeks. Shares traded around $6.89 when new CEO Farley took over.Photo courtesy of Ford. See more from Benzinga * Click here for options trades from Benzinga * Lancadia Vote, Katapult Deal, Virgin Galactic Share Offering: SPACs Attack Recap * Camping World, Lordstown Motors Partner On Sales And Electric RV(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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