According to Ford, the two vehicles could even arrive on the market at the same time.
If you recall, Ford posted a tweet in the moments leading up to the reveal of the Model Y. The tweet, as seen here, simply stated: "Hold your horses." In a way, Ford was trolling Tesla with a reference to the upcoming Mustang-inspired electric CUV. The timing of the tweet was spot on though, as it directly lined up with the Model Y's grand reveal.
Now we learn via CNBC that indeed the tweet was directed at Tesla. In fact, CNBC says that Ford President of the Americas Joe Hinrichs adds that the Mustang-inspired electric vehicle should hit showrooms around the same time as the Tesla Model Y. Here's the quote from Hinrichs:
“The company is moving quickly toward producing what it previously described as a Mustang-inspired all-electric SUV that will be in showrooms next year, about the same time Tesla begins to deliver the first Model Y battery-SUV."
So then, both vehicles should arrive late next year. Model Y pricing ranges from $39,000 (available at a later date) to $60,000. We don't have any information on pricing for the electric Ford at this time though.
What we do know is that Ford's electric vehicle will be performance oriented and that it will go over 300 miles on a charge. Beyond that, not even an official name for the EV has been released other than that it won't be called the Mach 1, as Ford initially hinted at. It could be called the Model E though.
Ford has been largely absent in the electric car segment, so it's interesting to hear that the automaker is aligning itself to take on Tesla. 2020 could be the year that the electric automaker sees itself up against some strong domestic competition.