Tesla Shrugs Off Ford's New Mustang Mach-E Utility Vehicle - TheStreet.com

The new horse about to enter the stable of electric-vehicle offerings doesn't seem to be fazing Tesla (TSLA - Get Report) investors.

Ford (F - Get Report) on Sunday unveiled its new, all-electric, Mustang Mach-E SUV challenger to Tesla ahead of the 2019 Los Angeles Auto Show. The Mustang design-inspired car is part of Ford's $11.5 billion push to develop electric and hybrid models by 2022 - and to take aim at Tesla.

The Mustang Mach-E GT Performance models will get an estimated 459 horsepower, Ford claims, from two electric motors, one powering the back wheels, the other powering the front. They should be able to go from zero to 60 mph in roughly 3.5 seconds.

Zero gas. Zero emissions. 100% exhilaration.

Tap to be among the first to reserve the all-new, all-electric #MustangMachE.
— Ford Motor Company (@Ford) November 18, 2019

Tesla's Model 3 produces 450 horsepower and goes from zero to 60 mph in roughly 4.9 seconds, roughly the same as a Ferrari Testarosa though the slowest model in its lineup.

Meant from the start to be a Tesla challenger, the location of Ford's reveal was an airplane hangar just a short walk from the main offices of Tesla CEO Elon Musk's SpaceX operations in Hawthorne, Calif.

Musk often uses SpaceX facilities to unveil Tesla's new models, and has scheduled the debut of his electric pickup truck for somewhere in Los Angeles on Thursday.

Cybertruck unveil Thursday night pic.twitter.com/AHBxaubdhO
— Elon Musk (@elonmusk) November 16, 2019

The Mach-E, which will be built in Mexico, will be available next fall, Ford said. The GT Performance Edition will be available in spring 2021. Those in Europe and the United States who are interested in buying a Mach-E can make a refundable $500 deposit immediately, though.

However, investors appeared to be unfazed by Ford's official entry into the EV club, with Tesla shares up 0.52%, or $1.82 a share, at $353.99 in premarket trading on Monday. Shares of Ford, meantime, were up 1.45%, or 13 cents, at $9.08.

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