The Mustang Mach-E is Ford's new electric SUV

The deposit will allow customers to configure their vehicle and reserve their spot in line for when the crossover goes on sale next year.

Ford also requested us to download an augmented fact app.

Rumours of the "Mach-E" part of the name have been circulating for a long while, but this is the first hard confirmation we've got the crossover will also wear a Mustang badge.

"The launch marks the first real milestone in Ford's increased emphasis in electrification, and more importantly marks an increased effort by the legacy US automakers to be relevant in electrification", Dan Levy, a Credit Suisse analyst, wrote in a report Thursday.

While Mustang coupes are built in MI, the Mach E will be built at a factory in Cuatitlan, Mexico.

Much remains unknown about the Mustang Mach-E, but Ford could ease concerns over the choice of names by ensuring that it offers performance that lives up to the Mustang name. For starters, the Mustang name is synonymous with muscle auto performance.

But I'm off to California tomorrow morning for an embargoed briefing on the new BEV, and you'll have to wait until the Mach-E is revealed to the world at 6:30pm ET on Sunday, November 17 to find out what I learned.

In April, the No. 2 USA carmaker invested $500 million in electric automaker Rivian and said it planned to use the MI startup's platform to build a new Ford-branded electric vehicle.

No details have been released just yet, but Ford has previously floated a range figure of around 600 km. It's not so a great deal "Mustang-inspired" as it is an formal, legit member of the Mustang loved ones.

The only version available exclusively with the most powerful powertrain, all-wheel-drive and 20-inch wheels is the Ford Mustang Mach E GT, which starts at $60,500 MSRP without the federal tax incentives.