The car "should provide a more compelling alternative at the Model 3 price range than the other comps, especially given the performance focus," Levy wrote. Ford's Mach-E is expected to price in the "mass luxury" range, starting between $40,000 and $50,000, and have a 300 mile range, according to the note.
If sales of Ford's new Mach-E are successful, it could erode some of Tesla's hold on nearly 80% of the US electric-vehicle market share, according to the report. "The launch marks the first real milestone in Ford's increased emphasis in electrification, and more importantly marks an increased effort by the legacy US automakers to be relevant in electrification," Levy wrote.
Shares of Tesla were up roughly 1.24% at 1:30 pm in New York City. Tesla has a consensus price target of $273.38 and 11 "buy" ratings, nine "hold" ratings, and 16 "sell" ratings, according to Bloomberg data.
What a misleading article... 'Tesla might be running out of time to capitalize on its position as the leading electric-vehicle carmaker...'. Giga3 in China is expected to begin production very soon in a record-setting land field to production timeline. Giga4 already in process.