With the Mustang Mach-E 1400 expected to debut in the NASCAR race soon, Ford Motor will look to solidify its position. F stock price is growing.
By Godfrey Benjamin
Updated
3 mins read
As prevalent in today’s result-driven stock market, positive results can have a remarkable impact on a company’s stock price and performance. The same is currently applicable to Ford Motor Company (NYSE: F) whose stock shows a green tick in today’s pre-market gaining 1.20% to trade at $6.74 with a $0.080 gain. The new lease of life the company is experiencing in its share price can be attributed to the launch of the electric Ford Mustang Mach-E race car with a maximum horsepower of 1,400 at 60 miles/hr. The release of the Ford Mustang follows the company’s drive to promote environmental sustainability as well as establish its spot in today’s growing electric automobile production, an industry that is currently dominated by Tesla Inc (NASDAQ: TSLA).
The Ford Motor Company sells automobiles and commercial vehicles under the Ford brand, and most luxury cars under the Lincoln brand. Ford also owns Brazilian SUV manufacturer Troller, an 8% stake in Aston Martin of the United Kingdom, and a 32% stake in Jiangling Motors.
Ford prehistoric car manufacturing expertise has spanned decades currently putting the company’s total assets to $258.537 billion for the 2019 fiscal year. The company currently has a market capitalization of $26.49 billion resulting from the impacts of the coronavirus pandemic.
As Ford Motor’s new invention, the Mustang Mach-E is a prototype that doubles as a proof of concept for all of Ford Motor’s subsequent electric vehicles. As noted by Detroitnews, the prototype aims to show that battery-powered vehicles can run with the fastest of their gas-guzzling cousins. The Mach-E 1400’s horsepower is on par with the most powerful hypercars made, the million-dollar-plus hybrid Koenigsegg Regera and 16-cylinder Bugatti Chiron, which both turn a claimed 1,479 horsepower – and well above the most powerful Motor City contender, the 840-horsepower Dodge Demon.
The Mustang Mach-E model will work with two battery pack sizes and three power outputs. The entry-level rear-wheel-drive version is offered with either a 68 kWh battery producing 266 hp or a 88 kWh extended battery producing 290 hp. Both battery packs have a claimed 0-60 mph time of under seven seconds and an EPA range of around 210 and 300 miles respectively.
Besides the engine capacity, the Mustang Mach-E also has new world-class features that will endear it to consumers when it’s fully commercialized. Conventional door handles are absent on the Mustang Mach-E, and the vehicle instead features buttons that pop open the doors and a small door handle protruding from the front doors. Owners can use their smartphones as a key as well as a keypad built into the B-pillar.
“The whole intention of this product is to show what the Mustang Mach E is capable of. The Mach-E 1400 expands the envelope of all aspects of the production car,” Mark Rushbrook, Ford Motor’s Performance Chief, told CNBC in an interview.
The proposed $11.5 billion investment by Ford Motor will span through 2022. With the Mustang Mach-E 1400 expected to debut in the NASCAR race soon, Ford Motor will look to solidify its position, to recoup losses spiked by the coronavirus pandemic.
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Benjamin Godfrey is a blockchain enthusiast and journalist who relishes writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desire to educate people about cryptocurrencies inspires his contributions to renowned blockchain media and sites.
