American muscle coupe classic sports car Mustang, designed and built by Ford, will not be following the trend by going totally electric but instead will remain gas-powered.
Ford CEO Jim Farley says this American motor icon is doing well without having to make fundamental changes.
Farley is unperturbed by the electric competition and does not regard Tesla as a threat.
The way he sees it, the Mustang is in a segment all by itself.
Talking about American muscle cars, Farley said: “People are leaving the segment like Dodge, so we have a chance to really present something new about Mustang. This is going to give us a big advantage because a lot of people still love this kind of car.”
Chairman Bill Ford believes there is still a demand for the gas-powered Mustang and he too is going with his gut.
“If people don’t want them anymore, it will go away but I personally believe people are going to want this vehicle for quite some time.”
The new seventh generation 2024 Mustang boasts two engine variations – a 2.3L EcoBoost 4-cylinder engine or a 5.0L “Coyote” V8. Both will have a 10-speed automatic transmission.
Lee Iacocca developed the original Mustang, which was launched in 1964.
“People have asked me if this will be your last internal combustion Mustang. And the answer is, ‘we’ll see’. The customers will let us know when that day will come. Personally, that day will come with a tear in my eye,” said Ford.