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Ford Unveils Electric Mustang SUV to Challenge Tesla Dominance

  • Blue Oval leverages pony car name to earn electric credibility
  • U.S. sales of battery-powered autos seen quadrupling by 2025
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Ford Motor Co. CEO Jim Hackett talks about the Mustang Mach E, an all electric sports utility vehicle.(Source: Bloomberg)
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Ford Motor Co. is reinventing one of its marquee models -- the Mustang muscle car -- as a battery-powered crossover to become a player in the electric-vehicle market that is expected to take off in the coming decade.

In a splashy ceremony Sunday ahead of the Los Angeles Auto Show, the carmaker unveiled the Mustang Mach-E, a swoopy hatchback with distinctive pony-car haunches and familiar shark nose that it claims has the power to take on Porsche. When it goes on sale next fall, Ford hopes to convince mainstream buyers its electrified Mustang is an alternative to the Tesla models dominating the EV market.