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Ford will build more electric Mustang Mach-Es at newly reduced prices, The Detroit Free Press reported.
The Mach-E could sell at discounts ranging from $900 to nearly $6,000 in comparison to previous prices, according to the Free Press.
Ford is the latest electric vehicle (EV) company to cut prices on a signature car — a trend launched in mid-January by arch-rival Tesla, according to CNBC.
Many experts believe that Tesla cut prices to make up for decreasing demand for their cars.
But those cuts are also helping to push down prices across the EV market, analysts told CNBC.
Tesla’s discounts of up to 20 percent “make all other EVs … look incrementally more expensive,” Adam Jonas of Morgan Stanley wrote on Friday, CNBC reported.
That is pushing Ford to play catchup — and falling supply prices are making it easier to do so, executives said.
“We are responding to changes in the marketplace,” Marin Gjaja of Ford’s electric division told reporters, according to the Free Press.
Gjaja emphasized that Ford was “not going to cede ground to anyone.”
Welcome to Equilibrium, a newsletter that tracks the growing global battle over the future of sustainability. We’re Saul Elbein and Sharon Udasin. Send us tips and feedback.
Today we’ll start with an icy storm slated to freeze huge swaths of middle America, followed by a look at just how many households coped with power losses during the pandemic.
???? Plus: How firefighters are taking action on chemical exposures.Millions of Americans to face frigid forecasts
A large swath of the country is bracing for ice, snow and other winter hazards this week, Nexstar Media Wire reported.
Cold across the Midwest: The most threatening stretch of winter weather will extend from Texas through Oklahoma, according to Nexstar Media Wire.
Also at risk is Arkansas, Missouri, Tennessee, Kentucky, southern Illinois, Indiana and West Virginia.
More than 23 million people across the nine states were under a Winter Weather Advisory on Monday.
Ice on the way: The storm is expected to bring torrents of freezing rain, which can coat roadways, power lines and tree branches, Nexstar Media Wire reported, citing the National Weather Service.
Ice storms are in the forecast for more than 3 million residents of Arkansas, Tennessee and Mississippi.
Parts of central Texas near Austin could see more than a half-inch of ice accumulation.
Denver breaks records: Some parts of the country were already coping with extreme cold on Sunday and Monday.
Temperatures in Denver tied a cold record set in 1985 on Monday morning, according to Nexstar affiliate KDVR.
The temperature hit negative 10 degrees at Denver International Airport, according to the National Weather Service.
Denver’s coldest temperature ever recorded was negative 29 degrees on Jan. 9, 1875.
No snow yet in On the East Coast, however, New Yorkers are grappling with the fact that they’ve had no measurable snow this season, The New York Times reported.
On Monday, the city set a record for its latest-ever first measurable snow of the winter, beating Jan. 29, 1973.
Less than a week later, New York is expected to surpass its biggest streak of consecutive days without such snow.
Nearly 6M homes had power cut since 2020
Utility companies in the U.S. have disconnected customers an estimated 5.7 million times since early 2020, according to a report published Monday.
The disruptions have come even as those companies have paid billions to shareholders and executives, according to the report from the Center for Biological Diversity, BailoutWatch and the Energy and Policy Institute.
What they’re saying: “No one should ever have to choose between having food on the table and keeping the heat on,” Selah Goodson Bell, a campaigner with the Center for Biological Diversity’s energy justice program, said in a statement.
“It’s inexcusable for utility executives and shareholders to profit while Americans suffer climate extremes and get punished for being poor,” he added.
