(CNBC) -- LOS ANGELES – As many learn of Ford Motor’s improbable victory over Ferrari more than 50 years ago thanks to the box-office success of the “Ford v Ferrari” movie, the American automaker has its sights set on a new competitor for 2020.
Ford on Sunday unveiled its first all-electric SUV called the Mustang Mach-E, a nod to one of the most iconic versions of the pony car. The unveiling took place next to Tesla’s design center outside of Los Angeles.
While Ford Executive Chairman Bill Ford smiled and said the location choice was just “a coincidence” after the event, the Mach-E’s pricing, design and performance are testaments that Ford is looking to be the first mainstream automaker to potentially give Tesla a run for its money.
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