Ford Motor Company (NYSE:F) announced on Wednesday the production of the automaker's 150,000th Mustang Mach-E since manufacturing began nearly two years ago. The company considers that a significant milestone as it looks to scale EV production to a rate of 600K annually by late 2023 and more than 2M annually by 2026.
Of note, Ford (F) said almost all of Mustang Mach-E’s growth to date is coming from customers replacing an internal combustion vehicle with electric.
The Mustang Mach-E is available in 37 countries across the world for 2023, up from 22 in the vehicle’s first year. New Zealand, Brazil and Argentina are among the latest markets added to the Mustang Mach-E stable.
Earlier in the year, the Detroit automaker adjusted the MSRP higher on the Mustang Mach-E due to significant material cost increases, continued strain on key supply chains, and rapidly evolving market conditions.
During Ford's (F) last earnings call, execs said they believe the Mach-E will meet the $3,750 critical materials credit requirement on certain versions for the $7,500 tax EV credit. Read the earnings call transcript.