“But in fact, for Mustang Mach-E from launch through the end of this year, we'll have reduced the building materials from Mustang Mach-E by $5,000 per vehicle.”

In context

“le growth, we know we have to have a fresh, compelling offering with the right cost structure, something we continue to improve with the Mustang Mach-E. We also found that customers are very loyal to full EV powertrains once they enter, but they are not brand-loyal for their first purchase. We capitalize on that by getting to the market early with the Mustang Mach-E and our whole lineup, and it continues to reward us with over 60% of the customers new to Ford. We're seeing that the second EV purchase is much more loyal to the brand in these developed EV markets. So. we're glad that we have all these customers in our digital and physical ecosystem. We are aggressively lowering our product costs for our current and next-generation products. You'll find out a lot more in Capital Markets Day. But in fact, for Mustang Mach-E from launch through the end of this year, we'll have reduced the building materials from Mustang Mach-E by $5,000 per vehicle. Now, in contrast to two-world crossovers that we believe will be a very saturated market, we believe Model e can be highly differentiated in markets where we know the customer well, like the three-row utility space. And as I said, we'll share more about at our Capital Markets event later this month on our product strategy. I had a chance along with John and most of our leadership team, to go to China in the last few weeks and look at the EV market in a gemba, go-and-see activity up close. It's interesting to see how customers are no longer just attracted to traditional luxury brands with EVs or even hardware design anymore. Outstanding hardware styling, performance, quality are just a given in the EV digital marketplace today. The best new brands are offering integrated digital, retail, l”