What Did Elon Musk Have To Say About Ford’s Mach E SUV Debut?

With Ford (F) debuting its Tesla (TSLA) rival - the all-electric Mustang-inspired Mach E SUV on Sunday – Elon Musk praised the for automaker despite the competition.

Musk took to Twitter to congratulate Ford on its accomplishment, saying in his tweet, "Congratulations on the Mach E! Sustainable/electric cars are the future!! Excited to see this announcement from Ford, as it will encourage other carmakers to go electric too."

The encouragement from Musk comes on the heels of Tesla’s Cybertruck launch that is slated for Nov. 21. Ford has also teased an all-electric truck, previewing what looks like an F-150 pulling 1 million pounds of train cars in a video but has not released an official launch date for the pickup.

Ford teased the release of the Mach E for months, finally unveiling the SUV to much fanfare in a live-streamed event. The launch of the electrified SUV offered the first real glimpse of the EV, that takes on several appearance details from Ford’s popular Mustang.

The Mach E competes with Tesla’s Model Y crossover that made its debut back in March and is expected to be available in 2020. The Model Y is also expected to come with a $40,000 price tag.

The Mach E comes with a starting price of $43,895 and is offered in a number of configurations.

Shares of Ford stock were up 0.28% as of 10:32 a.m. EST on Monday while shares of Tesla stock were down 0.53% at the same time.