Ford Motor said today it is increasing production of the Mustang Mach-E and reducing prices to keep it competitive in the growing EV marketplace. Virtually all of Mustang Mach-E’s growth to date is incremental to the Ford brand with two-thirds of customers coming from competitor brands. In addition to lower pricing, Mustang Mach-E vehicles ordered between Jan. 30 and April 3, 2023 are eligible for Ford Credit “special rates as low as 5.34%.”

Ford also offers EV customers a full-size truck, SUV and van , and said it “has secured the batteries and raw material to scale production of all these models in 2023.” The prices of those products were not changed today.

The Mustang Mach-E was the No. 3 EV model in the U.S. in 2022, according to Ford. The changed pricing is part of Ford’s plan to keep the SUV competitive while strengthening Ford’s position as the No. 2 U.S. EV manufacturer as it continues to increase production in the growing part of the mobility business.