Ford increases production of Mustang Mach-E

The company’s first all-electric vehicle is expected to reach more than 200,000 units a year in North America and Europe by 2023, according to Farley, a tripling from current speeds.

Eric Tingwall of Car and Driver wrote in an article about the award: “The Mach-E is motivated and designed to drive new buyers who have traditionally only accepted EVs into excitement.

Ford said it will use the entire Cuautitlán plant, just north of Mexico City, for production. The company is working with key suppliers to increase the capacity of the Mustang Mach-E, including battery cells, battery trays and electric powertrains., it is added.

In September, Ford and South Korea-based energy company SK Innovations announced they were investing $11.4 billion to build two new giant production facilities for electric vehicles. Ford said The $7 billion investment is the largest-ever manufacturing investment in the company’s 118-year history.

Mustang Mach-E, which went on sale last year, sold 24,791 units as of November. Sales in November were up 8.4% compared to October.

“With the power of the Mustang Mach-E, Ford has delivered record electric vehicle sales, growing three times faster than the segment as a whole,” said Andrew Frick, Vice President of US and Canada Sales, said in a statement.

As more and more cars enter the electric vehicle market, Tesla is starting to lose market share – and Mach-E appears to be the beneficiary.

The company said in March that 70% of Mach-E buyers are new to Ford.

“The goal is to become the number 2 electric vehicle manufacturer in North America within the next few years,” said a statement from Said Deep, Ford’s head of North American product communications.

CNN’s Peter Valdes-Dapena and Chris Isidore contributed to this report.