Did Ford just tease an electric Mustang as Tesla debuts Model Y?

Ford Motor teased a possible electric Mustang-inspired crossover late Thursday at the same time Tesla was about to begin an event to announce its own new electric vehicle.

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.