Sept. 15 (UPI) -- Ford motors unveiled its redesigned seventh-generation 2024 Ford Mustang, with two gas-powered engines, even as its rivals are expected to go electric.
Initially, the automaker had planned to release a hybrid variant, but that was scrapped. Ford officials said Wednesday that they will be able to satisfy customers who still want gas-powered engines, but also those who want electric as well.
"We know customers do want that internal combustion and some of them want the electric and we offer both in that Mustang family," Jim Owens, head of Mustang marketing, said during a media briefing, according to CNBC.
The release of the newest version of the mustang comes at a time when Dodge and Chevrolet have announced plans to transition to all-electric vehicles. The former announced that its Charger and Challenger muscle cars would be replaced by new all-electric vehicles next year. And the latter has said that it expects to end production of the gas-powered Chevy Camaro in the coming years.
The changes come amid declining sales for Detroit sports and muscle cars, according to CNBC. Sales of the Ford Mustang, Dodge Challenger and Chevrolet Camaro fell 32% from 2015 to 2019.
"Investing in another generation of Mustang is a big statement at a time when many of our competitors are exiting the business of internal combustion vehicles," Farley said.
The announcement came on the same day that President Joe Biden appeared in Detroit to promote his plan for funding electric vehicle charging stations. Biden detailed plans for approval of about $900 million in federal funding to build the first EV chargers across the 35 states.