The Ford Mustang Mach-E electric sport utility vehicle
The Mach-E has become within Ford a high-profile test for a restructuring that has been marred by profit warnings, costly quality problems and the troubled launch this year of another important vehicle, the Ford Explorer sport utility.
For Chief Executive
By accelerating the 'clock speed' of vehicle development, cutting overlapping product architectures to just five from 13 and extending the company's most successful brands to new products, Ford could slash
'This is the first thing we generated out of this new thinking,' Hackett said in an interview ahead of the Mach-E unveiling. 'We have a lot more coming.'
For Ford Chairman
Automakers have struggled to make money on electric vehicles.
Ford's confidence in the Mach-E, and its determination to challenge
Musk replied to Ford's event with a tweet late Sunday: 'Congratulations on the Mach-E! Sustainable/electric cars are the future!! Excited to see this announcement from Ford, as it will encourage other carmakers to go electric too.'
The Mach-E started with humble ambitions. The SUV originally was to be what
Boring electric cars were the norm for Ford and other legacy automakers. Then
Ford's own customer research showed dull electric cars were a mistake, Cannis and other executives said.
This is not the first time a challenge to reinvent the Mustang has emboldened Ford employees to break with convention during a rough patch in the company's history.
The original Mustang launched in 1964 was derived from a mainstream Falcon compact car, and quickly became a hit, far out-selling the company's projections.
In the early 1990s, with the economy in a slump, a small group of Ford employees rebelled against a plan to transform the rear-wheel drive Mustang into a front-wheel drive car developed by Ford's then-partner, Japanese automaker
The Mach-E is another turning point, Hackett said. 'The science project platform for EVs is now gone.'
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