Ford Reduces Electric Vehicle Prices Following Tesla

Ford is following Tesla in reducing the price of electric vehicles in an effort to gain market share and

 compete more effectively with other manufacturers.

 The cost of Ford's all-electric Mustang Mach-E and Ford Focus Electric are being reduced by up to $2,500 and $2,000, respectively.

Because the entire cost of owning electric vehicles is lower,

they expect that this price reduction would persuade more consumers to select them.

Ford is betting that the combination of aggressive pricing and alluring EV sales incentives will boost interest in their electric cars.