Responding to an Automobile Magazine report that Ford is prepping a mass-market electric car that will run over 200 miles between charges, Ford says they've got it all wrong: "We do not comment on speculation but can confirm these reports are not accurate," a spokesperson tells The Verge. By all appearances, the announcement — which would happen this year, Automobile had claimed — would go head-to-head with Chevy's Bolt and the upcoming Model 3 from Tesla, both of which are designed to hit the market well under $40,000. (Ford currently offers the Focus Electric, but its range is just 76 miles — not practical as an all-purpose vehicle outside urban centers.)

It could compete with the Bolt and the Model 3

Legacy automakers are racing to meet stricter US emissions standards that are scheduled to go into effect between model years 2017 and 2025; by the middle of the next decade, vehicles will be required to average nearly 55 miles per gallon across the model range, which will require some aggressive moves toward alternative powertrains and full electrics. The problem today is that practical high-range electrics like Tesla's Model S are too expensive for the mass market — and that's where cars like the Model 3 and Bolt come into play.

Automobile had pegged November's LA Auto Show as the likely stage for Ford's launch, but the New York Auto Show — coming up in early April — could have been an outside possibility.

Update March 3rd 6:40 PM ET: Ford has responded to Automobile's report, calling it "not accurate." Our story has been reflected to incorporate Ford's statement.