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Ford teases all-electric ‘Mach 1’ SUV coming in 2020

Ford Motor Co. teased the 2020 debut of the “Mach 1” — an all-electric SUV — on Sunday as the automaker vowed to spend $11 billion on electric cars through 2022.

In an announcement at the North American International Auto Show on Detroit, Ford F, +0.53%   said the performance SUV will be developed by the company’s Team Edison at an electric- and autonomous-vehicle plant being built in Detroit’s Corktown neighborhood, but revealed few other details.

Separately, Ford said it had increased the amount of money it’s committing to spend on electric vehicles, shifting about an additional $7 billion toward electric trucks and SUVs, according to a Wall Street Journal report.

The Mach 1 name has been used previously with Ford Mustangs. A short video that accompanied the announcement took a “Frankenstein” tone as it showed a Mustang and a Ford Explorer entering a factory building, then a series of lightning bolts flash and the front doors open to reveal….something fast.

The Mach 1 — if that name indeed sticks — is likely to compete with Tesla Inc.’s TSLA, -0.51%   Model X SUV.

Ford and Tesla may be competing on another product line by 2020. Last year, Tesla Chief Executive Elon Musk pledged to produce an electric pickup truck after the Model Y compact SUV starts production in 2019. “Am dying to build it,” Musk said.

Musk said the Tesla pickup’s size would be comparable to, or “slightly bigger” than, Ford’s flagship F-150 pickup.

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