Ford Offers Discounts For Mustang Mach-E Electric SUVs In China: Report

Ford Motor Co F reportedly offers a ¥40,000 ($5,700) discount on its Mustang Mach-E electric SUVs in China.
The offer will be valid until the end of April, Reuters reported.
Ford had already cut Mach-E prices by about $5,900 in the U.S. after its rival Tesla Inc TSLA slashed the price of its Model Y crossover.
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The company saw a 45% increase in Mach-Es sales in the U.S. last year. But sales in China was low at just 7,782 vehicles.
F had proposed a plan last year to boost Mustang Mach-E production, targeting a global annual output rate of 270,000 by the end of 2023.
Ford produces the Mach-E in Mexico and China.
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Price Action: F shares closed lower by 1.19% at $12.83 on Tuesday.
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