Tesla Causes Headaches for Ford as EV Sales Surge

While Ford has relied on its experience and legacy to catch up to Tesla, the latter has shifted gears by reducing the prices of its vehicles six times this year alone. Tesla’s Model Y SUV, the direct rival to Ford’s Mustang Mach-E, has witnessed a significant price drop, putting Ford in a tight spot. The price cuts, coupled with Tesla’s superior charging network, give the Model Y an advantage over the Mach-E.