Mercedes Benz Plans New EQ S Electric Sedan
【Summary】Mercedes Benz is planning to challenge Tesla in the luxury electric car space occupied by the Model S. The company is developing a battery-powered full-size sedan, challenging Tesla and possibly luring away luxury electric-car buyers.
Mercedes Benz is planning to challenge Tesla in the luxury electric car space occupied by the Model S. The company is developing a battery-powered full-size sedan, challenging Tesla and possibly luring away luxury electric-car buyers, Bloomberg has reported.
The new full-size sedan called the EQ S, will be part of the Daimler AG's push to introduce 10 all-electric vehicles by 2022, Chief Executive Officer Dieter Zetsche said Wednesday during the presentation of the revamped Mercedes A-Class hatchback in Split, Croatia.
The EQ line will be joined by other plug-in hybrid models offering a "totally different" battery range than today, while conventional vehicles will feature so-called mild hybrids with 48-volt technology in a shift away from internal combustion engines. "All vehicles will be electrified," Zetsche said.
Mercedes is the world's best-selling luxury-car maker. The company had record deliveries and profits last year. However, the surging costs for the development of battery-powered cars and new digital offerings, plus the threat of trade barriers between the U.S. and China threaten to cut into Damiler's profit margins.
"We would of course welcome additional opportunities," Zetsche said during his presentation, referring to China possibly easing caps on ownership of joint ventures for foreign manufacturers. "We have a very good cooperation with BAIC in China and might come to the conclusion that there won't be any change. But of course it's better to have more instead of fewer options." Mercedes will meet China's planned electric-car quota, Zetsche said.
Tesla has been operating without much competition in the luxury-electric segment since launching the model S in 2012. Although most automakers today are offering at least one electric vehicle in their lineups, most off these vehicle are compact, economical models offering much less range and space than the full size Model S.
With Mercedes and Porsche both planning to release high-end electric vehicles, Tesla must find a way to stave off its rivals in the luxury electric space it once solely occupied.
Volkswagen Reveals the Exterior of the Upcoming Electric ID.4
Volkswagen to Build EV Battery Cells & Packs in Tennessee for its Future Electric Models
General Motors CFO Unexpectedly Departs to Take Role at Online Payment Startup Stripe
Chinese Electric Vehicle Startup Xpeng Motors in Talks for Another $300 Million in New Funding, Sources Say
Tesla’s Recent Stock Surge Has Also Helped its Battery Supplier LG Chem
Uber is in Talks for a $500 Million Investment in its Uber Freight Unit
California Electric Automaker Fisker to go Public in a Deal That Would Give the Company a $2.9 Billion Valuation
Uber Launches a Grocery Delivery Service in South America & Canada, Will Soon Launch in the U.S.
- Audi & Qualcomm to Deploy Cellular Vehicle-to-Everything Technology on Virginia Roadways That Will Alert Drivers When Workers Are Present
- Here's What You Need to Know About the Canoo Subscription-only Electric, Urban People Carrier
- The Genesis eG80 is the Latest All-Electric Luxury Sedan from Hyundai
- Xilinx & Continental Create the Auto Industry’s First Production-Ready 4D Imaging Radar for Autonomous Vehicles
- California Electric Bus Maker Proterra Unveils a New Battery Pack to Make it Easier to Electrify Combustion Engine Commercial Vehicles
- A 740 HP Electrified Porsche Panamera May Join the Current Lineup
- Tesla Shares Fall 21% After S&P 500 Exclusion & GM Acquires a Stake in Rival Nikola Motor
- Autonomous Driving Startup AutoX Announces the Public Launch of its Robo-taxi Service in China
- The Latest Version of Tesla’s Autopilot Can Read Speed Limit Signs, Along with Other New Features
- Luxury Electric Automaker Lucid Motors Opens its Studio & Service Center in Southern California