When CEO Jim Farley told Wall Street analysts in Ford Motor Company’s second-quarter earnings report that an all-new Mustang would be unveiled at the Detroit auto show next month, he left unanswered whether it would include a much-rumored hybrid version.
The answer, according to industry sources is “no,” but a battery-electric Mustang based on the Mach-E’s platform will make its debut about mid-2028 to replace what will be the last internal-combustion model.
AutoForecast Solutions report that last ICE Mustang begins production in March 2023 as a 2024 model—a similar timeline for the departing Dodge Challenger and Charger. The Mustang Mach-E, which is sold out for the 2022 model year, easily offsets the ICE Mustang’s carbon emissions, so there’s no need for a hybrid.
The full-EV Mustang, probably a 2029 model, will be based on the Mach-E’s platform. CEO Farley told investment analysts in late July’s Q2 conference call that Ford is not developing dedicated EV platforms like General Motors’ Ultium battery architecture.
While the Mustang Mach-e is assembled in Mexico with a Chinese-built battery pack, the current Mustang’s Flat Rock, Michigan, assembly plant is the expected factory for the last ICE model and first BEV model, according to one source, who says the plant would not have enough capacity to build both versions at the same time. However, we’d expect low-volume, high-performance ICE Shelby Mustangs to be built toward the end of 2028 production and hit showrooms late in the year.