Monday, September 26, 2022

Why Ford is keeping its Mustang gas-powered even with its EV push

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DETROIT – Ford Motor CEO Jim Farley was in his element Wednesday night, surrounded by gearheads and the automaker’s new 2024 Mustang models, including a surprise new high-performance version called the “Dark Horse.”

There was no talk of electric vehicles or sustainability during the unveiling for the Detroit auto show. Just revving engines and the screeching of tires, to the applause of hundreds of Mustang owners in attendance.

The scene unfolded in stark contrast to other recent events for Farley and Ford, which have touted electrification and green goals. That’s because despite the EV transition, Mustang is sticking with gas-powered engines for the seventh-generation vehicle in 2024.

That may come as a surprise, given Ford’s plans to invest $50 billion in new electric vehicles in the years ahead, as well as expected plans for the Dodge Challenger and Chevrolet Camaro — the Mustang’s largest rivals — to go electric.

So why did Ford stick with gas engines for the new vehicle? Farley said, essentially, because it could … and because it makes good business sense for the foreseeable future.

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Disclaimer: This story is generated from RSS Feed and has not been created or edited by Waba News. Publisher: CNBC

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