By David Shepardson
WASHINGTON (Reuters) -Ford Motor Co said Tuesday it is cutting prices on its Mustang Mach-E electric vehicle and reopening orders after a series of price cuts by rival Tesla Inc.
The No. 2 U.S. automaker said it is also increasing the range for standard range battery models as it increases production in the second half of the year.
Ford said it is cutting most Mach-E prices by $3,000 or $4,000 depending on the version. Last month, the federal EV tax credit for the Mach-E fell in half to $3,750 from $7,500 after new battery sourcing requirements took effect.
Mustang Mach-E U.S. sales fell 20% in the first three months of the year.
On Monday, Tesla raised prices in a range of up to $290 in Canada, China, Japan and the United States, its website showed on Monday, after having slashed prices on its top-selling vehicles since the start of the year.
The hike was Tesla’s first on its two top-selling models at the same time in multiple markets, although prices across its lineup are much lower than in January, after a round of discounts.
(Reporting by David Shepardson; editing by Jonathan Oatis)
