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Screenshot via Ford's release

Ford is offering a little more info about its upcoming long-range electric vehicle, saying it will unveil its "Mustang-inspired" electric SUV on Nov. 17 and teasing the outlines of the car.

Why it matters: Ford has been slower to move into EVs than some other auto giants, but it's now pouring billions of dollars into the effort to develop a number of vehicles — including an electric F-150.

  • It's also working with VW and investing in the startup Rivian.
  • The company says the "Mustang-inspired" SUV will have a range of roughly 300 miles.

Where it stands: "The new vehicle, which is also now rumored to be called 'Mach E,' has been spotted a number of times in recent months in testing camouflage," The Verge reports.

  • "There’s been speculation that it will cost around $50,000, come in short and long-range variants, and be available in rear or all-wheel-drive configurations," their piece adds

What's next: Via CNBC, Ford plans to have the vehicle available in U.S. and European dealerships next fall.

Go deeper

Biden to travel to U.K. and Brussels for first foreign trip as president

Photo: Anna Moneymaker-Pool/Getty Images

President Biden will travel to the U.K. on June 11-13 for the G7 summit, followed by a trip to Brussels on June 14 for the NATO summit, the White House announced Friday.

Why it matters: Biden's first overseas trip since becoming president — which has been delayed due to the pandemic — will be used to reaffirm the U.S. commitment to multilateralism, following four years of strained relations with European allies under former President Trump.

Dan Primack, author of Pro Rata
2 hours ago - Politics & Policy

Biden starts negotiating to raise capital gains tax rate

Illustration: Aïda Amer/Axios

President Biden wants to nearly double the capital gains tax paid by wealthy Americans, as first reported yesterday by Bloomberg and confirmed by Axios.

Counterintuitive: Biden's plan is better for private fund managers (hedge, PE, VC, etc.) than what he proposed during the campaign.

Scoop: Caitlyn Jenner makes it official for California governor

Caitlyn Jenner. Photo: Paul Archuleta/Getty Images

Former Olympic decathlete and reality TV star Caitlyn Jenner has filed her initial paperwork to run for governor of California and will officially announce her bid later today, her campaign tells Axios.

The big picture: Jenner, a longtime Republican, is seeking to replace Democratic Gov. Gavin Newsom in a recall election, hoping her celebrity status and name recognition can yield an upset in the nation's most populous state.

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