Chula Vista, CA
Wow this is going to be cool...
READ MOREOne of America's most cherished muscle cars is going electric -- the Ford Mustang.
Ford announced plans Tuesday to make a hybrid version of the Mustang that will be powered by electric motors as well as a gasoline engine.
Ford cancels Mexico plant
The news comes as part of a larger announcement from the automaker that it's investing $4.5 billion in electric and hybrid vehicles, and that its scrapping plans to build a new plant in Mexico, while adding 700 jobs in U.S.
Ford (F) also announced it will make a number of other hybrid and electric models in the U.S. as well, including a hybrid version of the popular F-150 pickup and a new all-electric SUV with a fully charged driving range of 300 miles.