Ford has announced that its mighty Mustang is going electric in a bid to improve performance and make it more eco-friendly.

It is part of a £570 million plan by Ford and the Mustang is just one of 13 new electrified vehicles. There will also be a plug-in version of the Transit Custom and an all-new fully electric small SUV with a range of up to 300 miles.

Ford says it will be investing more than four billion dollars in electrified vehicles by 2020 which will include a V8 hybrid Mustang arriving in North American markets that year.

Mark Fields, Ford president and chief executive, said: “As more and more consumers around the world become interested in electrified vehicles, Ford is committed to being a leader in providing consumers with a broad range of electrified vehicles, services and solutions that make people’s lives better.

“Our investments and expanding lineup reflect our view that global offerings of electrified vehicles will exceed gasoline-powered vehicles within the next 15 years.”