That's because despite the EV transition, Mustang is sticking with gas-powered engines for the seventh-generation vehicle in 2024. "People are leaving the segment, like Dodge, so we have a chance to really present something new about Mustang," Farley said following the 2024 Mustang debut. Farley and Ford Chair Bill Ford declined to say whether the seventh-generation Mustang is expected to be the last gas-powered version of the car. The Mach-E, which shares little to nothing with the gas-powered Mustang other than a name, has led Ford to become the second bestselling brand of EVs in the country. U.S. President Joe Biden stands next to a Ford Mustang Mach-E (electric) SUV during a visit to the Detroit Auto Show, to highlight electric vehicle manufacturing in America, in Detroit, Michigan, September 14, 2022.

---