When Ford cut the prices of its Mustang Mach-E, it was just a matter of when the company would do the same in other parts of the world. Buyers in China will now benefit from a discount on the popular SUV. Prices now start at about $30,000 thanks to the promotion.
Ford grew to become the second-largest EV maker in the US, behind Tesla. However, Ford has resorted to lowering prices to improve its chances in the Chinese market, where it sold 7,782 units last year, compared to about 40,000 in the US.
According to Reuters, Ford is offering up to $5,700 in discount, with a new starting price of $30,000.
Other companies that been forced to do the same after Tesla rocked the Chinese market with deep discounts in January. Xpeng slashed by up to $5,300, while Toyota began offering the bZ4X electric SUV from $25,000.
Ford slashed prices in the US by up to $5,900. The Mustang Mach-E will become even more attractive thanks to the new US federal EV incentive allowing buyers to save even more money.
The Mach-E remains popular in North America, where it has become a favorite with police departments electrifying their fleets. Ford has sold 50,000 units worldwide.