Ford Cuts Prices On Mustang EV

Ford Motor ($F@US) announced on Monday that it is cutting the price of its Mustang Mach-E. The reductions of the electric SUV range from $600 to $5,900, compared to Tesla’s ($TSLA@US) price cuts of up to $13,000 on its Model Y earlier in January. The move may compromise the profitability of Mach-E on a per-unit basis. However, it is expected to increase from 78,000 vehicles to 130,000 units annually.