Asian Tech Press (Oct 31) -- Ford's FMeT has become the first electric car brand to officially follow up on Tesla's price cuts.

Ford China's Electric Vehicle Division announced Monday that since October 31, it has lowered the selling prices of the Mustang Mach-E SUV series by 20,000 to 28,000 yuan ($3,842), with an adjusted price range of 249,900-369,900 yuan.

In April 2021, Ford launched the China-made version of its first pure electric SUV, the Mustang Mach-E, with four models starting at 265,000 yuan, 309,900 yuan, 339,900 yuan and 379,900 yuan ($52,133) respectively at the time.

In May this year, Ford announced that the Mustang Mach-E ushered in price increases due to factors such as significant increases in car manufacturing and raw material costs, with price hikes ranging from 7,000 yuan to 20,000 yuan, and the prices of the four models rose to 275,900 yuan, 316,900 yuan, 369,900 yuan and 389,900 yuan ($53,505).

The Mustang Mach-E retains the design style of the Ford Mustang, is a mid-sized crossover SUV that competes with the Tesla Model Y.

Since its launch, the Mustang Mach-E has achieved good results in the U.S, with monthly sales of about 5,000 units and showing an upward trend.

However, in the Chinese market, Ford sold only 3,626 units of the electric car in the first half of 2022, less than the monthly sales in the U.S. market.

In late September, Ford announced that it had launched an independent company, Ford Mach-E Technology Co. (FMeT), to run its electric vehicle business in China and accelerate its electrification transition in the country.

(US$1 = 7.2872 yuan)