Ford is set to unveil its most important model yet – an all-electric, Mustang-inspired crossover, Autocar reports. The new EV model is tipped to go on sale in 2020, and a concept will be shown later this year.

Apparently, Blue Oval claims that the Mach-E crossover will embody the spirit of the iconic Mustang, making it a truly “21st century Tesla Model Y rival.” It will be the first pure electric Ford model designed from the ground up, complete with a new bespoke platform that enable both rear- and all-wheel drive.

The “Mach-E” is also said to crown the brand’s grand electrification plan, under which European customers will be offered a hybrid, plug-in hybrid or fully electric version of every new model launched.

2020 Tesla Model Y

For now, the only technical detail Ford has revealed is the crossover’s driving range. On a full charge, it boasts a range of 595 km based on the strict WLTP test protocols, beating the Tesla Model X‘s 564-km range and Jaguar I-Pace‘s 470-km limit. A cheaper version of the Ford EV with a smaller battery can also expected.

Ford claims charging will be “effortless” and it is redesigning the ownership experience to help boost the adoption rate of electric cars. Performance-wise, nothing has been revealed, but company chairman Bill Ford previously said it will “go like hell.”

At the Bank of America summit last month, Ford revealed that it would offer a higher-performance variant of the electric crossover, which means there could be at least three variants on offer. While not confirmed, reports suggest that Ford will announce the crossover’s official name by the end of this year, together with the concept.

Like most new Ford models, the “Mach-E” crossover will be a globally-engineered car with minimal changes between regions. It won’t be Ford’s sole EV in the short term, though, because the automaker is also working on a more affordable electric SUV, codenamed CX430. It will be based on the latest Focus platform and be similar to the Kuga. The CX430 has been in Ford’s product plan for several years.

Ford’s decision to produce hybrid and electric cars comes after news that it will stop selling sedans in North America. The move signals two things: the end of Ford’s 110-year presence in the US passenger sedan market, and the company’s new focus on profitability, not diversity. It will also introduce as many as 13 new electrified vehicles by 2020.