May 3, 2023: Ford Motor is again cutting the starting costs of its electric Mustang Mach-E by thousands of dollars as the automaker increases the production of the crossover and is opening order banks for the vehicle.

The Detroit automaker said it would lower the pricing of the Mach-E by a range of $1,000 to $4,000. The slashes will decrease the vehicle’s starting price between $42,995 and $59,995.

The reductions are the recent price adjustments in the electric vehicle market following Tesla cutting prices for a time this year but also slightly raising costs on some models this week.

Third announced it is slashing prices of the Mach-E by $600 to $5,900 in January, weeks following Tesla announced similar cost cuts for vehicles such as its Model Y, capacity to the Mach-E.

Automakers are attempting to balance increases and losses/profits regarding E.V.s, something Wall Street analysts have been watching better to determine the company’s strategies with the vehicles.

“Like others, Ford must decide what kind of E.V. strategy to pursue: Grow fast and burn cash or a more focusing approach that prioritizes capital discipline,” Morgan Stanley analyst Adam Jonas said in an investor note in the previous week.

Tesla CEO Elon Musk stated that the group would prioritize increase ahead of profits in a weak economy.

Musk stated that the company has “taken the view that pushing for higher volumes and a bigger fleet is the right choice here versus a lower volume and higher margin.” Still, it noted that he expects Tesla vehicles “over time will be able to provide significant profit through autonomy.”

On Tuesday, in addition to the price change, Ford said that the Mach-E standard range models would be powered by lithium-iron phosphate batteries instead of lithium-ion. The vehicles will add additional horsepower and range, Ford stated.

“The production surge for Mustang Mach-E in the next half of this year is part of Ford’s plan to scale E.V. and make them better accessible and affordable for customers,” Ford stated.