It's a new era for the Ford Motor Company. For the first time in 55 years, the automaker expanded its lineup of the iconic Mustang model with an all-electric version — and the line's first SUV.

"It's time to transition to electrification," Joe Hinrichs, Ford president of automotive, told Cheddar Monday.

Hinrichs says Mustang has traditionally focused on "fast, fun, and affordable," and he believes the Mach-E will stand up to that test. It reaches 0 to 60 miles per hour in about 3 seconds.

The Mach-E also has a range of at least 260 miles which keeps the model in line with Ford's environmental sustainability commitments. Drivers making the switch from gas to electric will have access to some 12,000 charging stations through the FordPass Charging Network, the largest public charging system in North America. Ford will also offer multiple home charging solutions as it puts more than $11 billion into a global transition to electric vehicles.

At price points ranging from about $44,00 to $60,000, the Mach-E costs about $10,000 more than a combustible engine Mustang but is competitive with Tesla, the leading electric car brand. Hinrichs predicts all manufactured Ford vehicles will be electric at some point "in our lifetime." He says the company already has 40 all-electric or hybrid cars in development.

Ford's technology teams aren't solely focused on electric. The company is carefully working on its autonomous technology and Henrichs says it will wait until self-driving cars are safer than those driven by humans. "The requirements are greater than [for] a human driver, and they should be," says Hinrichs "We tolerate a lot of human driver behavior that we won't tolerate in an autonomous vehicle."

You can read all about the Mustang Mach-E here.

Share:
More In Business
SAG-AFTRA Members Officially on Strike
Members of the Screen Actors Guild - American Federation of Television and Radio Artists union officially went on strike Friday after negotiations broke down with the Alliance of Motion Picture and Television Producers. Cheddar News explains.
The Importance of Timely Loan Repayment 
With so much information floating around about student loans, and an uncertain federal plan to forgive a significant amount of debt, Cheddar News brought in an expert to help you sort through what's going on. 
Getting Down to Business With the Cast of RHONY
The latest season of the Real Housewives of New York City premiered this week, and Cheddar's own Michelle Castillo got a chance to catch up with the ladies and get some of their tips on how to stretch your dollar in the Big Apple.  
How to Live Comfortably in Your City 
Now if you live in a major city and feel like no matter how much money you make it's never enough, you're not alone. Jacqueline Schadeck of New Perspectives Financial is here to show us how you can live within your means and still live comfortably.
All Buybuy Baby Stores Are Set to Close 
The ongoing liquidation of parent company Bed Bath & Beyond has now officially affected buybuy BABY stores. A judge has approved the sale of the chain's intellectual property for $15.5 million. 
Airline Costs Are Cooling This Summer
Prices for airfare seem to be cooling off. The latest consumer price index showed prices dropped 8.1 percent in June from a month earlier, which is the biggest decline in a year.
Load More