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By Dhirendra Tripathi
Investing.com – Ford Motor (NYSE:F) shares rose more than 3% in Wednesday’s trading after it said that its electric vehicles, namely Mustang Mach-E GT and Mustang Mach-E GT Performance Edition, had more than met the ranges set by the U.S. Environmental Protection Agency.
Ford’s global director of battery electric vehicles Darren Palmer said he was pleased that more than half of the orders for the Mustang Mach-E GT are for the Performance Edition.
The sportiest of Mach-E variants, Mustang Mach-E GT, will go 270 miles on a full battery. Mach-E GT Performance Edition will do 260 miles with the same full-battery charge.
Mustang Mach-E GT is retailed at $59,900 and the Mustang Mach-E GT Performance Edition at $64,900 in the U.S. Deliveries of the vehicles will begin in the fall.
Barclays (NYSE:BCS) had on Tuesday raised Ford’s target to $17 while reiterating its overweight rating on the company. The target is now 10.5% away from the current price of $15.38.