Ford 'moving quickly' to launch Mustang-inspired EV next year

The company posted another teaser coinciding with Tesla's Model Y unveiling event.

Ford is apparently pulling out all the stops in its effort to launch a Mustang-inspired EV next year.

The company posted a Twitter teaser showing a blue glowing pony logo within minutes of Tesla's Model Y launch event, captioning the photo with "Hold your horses."

Some automakers appear to be falling behind in their development schedules for upcoming electric vehicles. Speaking to CNBC, Ford's president of the Americas, Joe Hinrichs, says the Blue Oval is moving quickly to bring its Tesla rival to market next year.

Tesla expects its Model Y to outsell the Model S, X and 3 combined, reflecting consumer preference for high-riding models. Ford and established rivals are presumably scrambling to beat Tesla to market with long-range all-electric crossovers.

Ford is working on at least 16 electrified models by 2022, requiring $11 billion in investment. The automaker plans to offer an all-electric pickup, engaging the company's most popular and profitable segment.

Hold your horses pic.twitter.com/EYNqZLv3ER

-- Ford Motor Company (@Ford) March 15, 2019

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