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Ford To Introduce 'Mustang-inspired' Electric SUV In November

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Ford said it will unveil its all-electric, "Mustang-inspired SUV" in November 2019.

The automaker will unveil the electric sports utility vehicle on November 17, days ahead of the Los Angeles Auto Show.

According to the company, the fully-electric performance utility will come to market in late 2020. The vehicle will have a targeted EPA-estimated range of at least 300 miles.

Orders for the vehicle will start in conjunction with its unveiling on November 17. However, Ford has not provided more details about the electric SUV.

Ford has previously said it would invest $11 billion in electric vehicles and confirmed that it will develop two key fully electric vehicles - the Mustang-inspired crossover, and an electric version of its popular F-150 pickup truck.

The F-150 has been the top selling U.S. vehicle by any manufacturer for more than 40 years. Ford sold more than a million units of the F-series trucks last year, with the F-150 accounting for nearly a third of Ford's sales. Ford has previously said it would also make a hybrid version of the F-150.

As part of its intensified focus on electric vehicles, Ford entered into a deal with Volkswagen earlier this year to invest in the autonomous vehicle platform company Argo AI for introducing autonomous vehicle technology in the U.S. and Europe.

Ford said it will use Volkswagen's electric vehicle architecture and Modular Electric Toolkit or MEB to design and build at least one high-volume fully electric vehicle in Europe for customers, starting in 2023.

In April, Ford said it will invest $500 million in electric truck maker Rivian. The companies will also work together to develop an all-new battery electric vehicle for Ford using Rivian's skateboard platform.

Several automakers have entered into partnership to lower the huge costs of developing electric vehicles amid increasingly tough regulations to safeguard the environment.

Toyota and Subaru Corp. said in June that they have decided to expand their collaboration by jointly developing electric cars.

BMW Group and Jaguar Land Rover also said in June that they will jointly develop electric drive units for the next generation of electric vehicles.

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