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Tesla is facing a challenge from Mercedes-Benz, which unveiled a new electric-sedan concept vehicle with improved range at the German motor show.
Mercedes-Benz (ticker: MBG.Germany) said the electric-sedan concept — branded as the CLA Class — has a range of more than 466 miles, based on global industry standards. That’s even better than the long-range version of Tesla’s (TSLA) Model 3 sedan, which has a range of 391 miles on a similar basis.
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Tesla is facing a challenge from Mercedes-Benz, which unveiled a new electric-sedan concept vehicle with improved range at the German motor show.
Mercedes-Benz (ticker: MBG.Germany) said the electric-sedan concept — branded as the CLA Class — has a range of more than 466 miles, based on global industry standards. That’s even better than the long-range version of Tesla’s (TSLA) Model 3 sedan, which has a range of 391 miles on the same basis.
“This new model is inspired by a generation of family car buyers who want the unmistakable Mercedes-Benz experience… They also want a sustainable option that stands out from the rest. this hypermylar [a term denoting extreme fuel efficiency] It is the one-litre car of the electric age,” Mercedes-Benz President Ola Kallenius said in a company statement on Sunday, coinciding with the vehicle’s unveiling at the IAA car show in Germany.
The CLA Class is currently only a concept vehicle. Expected to go into production next year, the car will be the first in Mercedes-Benz’s new all-electric segment of entry-level vehicles, which also includes two new SUVs.
Mercedes-Benz more than doubled sales of battery electric vehicles to 117,800 last year, accounting for about 6% of its total vehicle sales to retail customers. That leaves it as a smaller player after Tesla’s 1.3 million-plus deliveries in 2022, but Mercedes-Benz aims to sell 50% electric vehicles by 2025 and be fully electric by 2030.
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Mercedes-Benz stock was up 1.2% in overseas trading on Monday. Tesla shares were not trading due to the Labor Day holiday.
Write to Adam Clark at [email protected]
Source: www.barrons.com
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