Ford tweeted "Hold your horses" with a simple image of the famous sports car's pony logo outlined in blue against a black backdrop.
The tweet was posted at 8:02 p.m. on the West Coast — two minutes after Tesla was scheduled to begin its big event revealing the Model Y electric SUV.
An electric Mustang-inspired crossover, which has been expected for some time, would mark Ford's attempt to establish itself as a serious player in the market for high-end electric cars, a space that is currently cornered by Tesla.
A spokesman for the automaker did not immediately respond to a request for comment late Thursday night.
