ford motor company f confirmed a significant price cut for its mustang mache suv just as rival tesla inc tsla increased prices in the highly competitive electric vehicle market the news comes as ford is set to reopen mache orders following a major factory overhaul in mexico aimed at boosting production and cost containment the automaker has reduced the price of   the mache standard range by 3000 to 42995   the premium standard range by 4000 to 46995   and the gt extended range by 4000 to 59995 in contrast tesla raised its model y prices by 250 with the standard model now at 47240 the long range at 50240 and the performance at 54240 ford also increased the epaestimated range for standard battery models of 250 miles for rearwheel drive and 226 miles for allwheel drive trims all standard range models will now be powered by lithium iron phosphate batteries similar to the rear wheel drive tesla model 3 the mustang mache is eligible for potential inflation reduction act federal tax credits in 2023 of 3750 compared to the model ys 7500 tax credit as the ev market continues to expand rapidly fords price cuts and improved performance specs signal a growing rivalry with tesla