Auto giant Ford Motor Co. (F - Free Report) unveiled a new electric vehicle in Los Angeles on Sunday. Dubbed the Mustang Mach-E, the company’s car is an all-electric performance SUV expected to get 210 miles and roughly 300 miles per charge.
The Mach-E’s most direct competitor is Tesla’s (TSLA - Free Report) upcoming Model Y SUV. The two vehicles even share some similar features, like a large touch screen inside the cabin.
This new Mustang is part of Ford’s $11 billion plan to develop 40 all-electric and hybrid vehicles by 2022
Pricing for the Mach-E will start at about $43,895 for the base model and $60,500 for the GT. It is set hit showrooms in late 2020 and deliveries begin in spring 2021
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