Ford Expects to Triple Electric Mustang Output by 2023

Ford Motor Company's logo is seen on the side of the building at the unveiling of their new electric F-150 Lightning outside of their headquarters in Dearborn, Mich., on May 19, 2021. (Jeff Kowalsky/AFP via Getty Images)

Ford Motor Co. expects to triple the output of its all-electric Mustang Mach-E SUV to over 200,000 units per year by 2023 for North America and Europe, its Chief Executive Officer Jim Farley said in a tweet on Friday.

“It’s hard to produce Mustang Mach-Es fast enough to meet the incredible demand, but we are sure going to try.” Farley added.

In a hot electrical vehicle market, Ford is pitting itself against the likes of century-old rival General Motors Co. and European carmaker Stellantis, while chasing Volkswagen and global EV leader Tesla Inc.

Last week, a top Ford executive said that the company was aiming for annual EV production capacity of nearly 600,000 within the next two years, which would also include its Lightning pickup and E-Transit van.

Lisa Drake, the chief operating officer of Ford North America, said that the company’s optimism stemmed from increasing demand for its F-150 Lightning pickup, with retail reservations approaching 200,000.