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."
The capacity to burn coal for power went up in 2022 despite global promises to phase down the fuel that’s the biggest source of planet-warming gases in the atmosphere, a report Wednesday found.
Rob Hocking, SVP, Head of Product Innovation at CBOE, joins Cheddar News to break down how the VIX is calculated, what role the VIX plays in the options market, and how investors can use the VIX Index to manage risk.
Adam Coons, chief portfolio manager of Winthrop Capital Management, joined Cheddar News to discuss Wednesday's market session amid weak job market data and what lies ahead in the near-term future.
In a clash of fast casual titans, Chipotle Mexican Grill is filing a lawsuit against Sweetgreen for trademark infringement. The salad purveyor recently released a meal offering called "Chipotle Chicken Burrito Bowl," which Chipotle said is being marketed in a "very similar" way as its own products and includes many of the same ingredients.
The number of Americans applying for unemployment benefits fell this week as the labor market continues to hold up in the face of the Federal Reserve aggressive campaign to cool the economy and bring down inflation.
Wall Street is drifting amid mixed trading Thursday, threatening to send the S&P 500 to its first losing week in the last four following some discouraging reports on the economy.
The upcoming trial in a voting machine company’s defamation lawsuit against Fox News for airing false allegations of vote fraud in the 2020 presidential election will not include testimony about the Jan. 6 uprising at the U.S. Capitol, a judge ruled Wednesday.
