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New Street Research Managing Partner Pierre Ferragu discusses how Elon Musk has become the richest person in the world and Tesla’s future.
Mercedes-Benz of Daimler AG on Wednesday unveiled the EQA, a new electric compact SUV as part of plans to take on rival Tesla Inc and deliver more emission-free vehicles to consumers to meet targets in Europe and China.
The EQA, the first of several electric models that Mercedes-Benz plans to launch this year, will initially have a range of 426 kilometers (265 miles), with a model 500 km later, the brand’s automaker said. range in a video presentation.
| Teleprinter | security | Latest | Change | Change% |
|---|---|---|---|---|
| TSLA | TESLA INC. | 850.45 | + 5.90 | + 0.70% |
The SUV will go on sale in Europe on February 4 at what the board of directors Britta Seeger described as “very attractive prices”.
TESLA’S RECORD RUN CONTINUES
Sales of electric vehicles (EVs) took off in Europe last year as automakers scrambled to meet European Union CO2 emissions targets. Sales were boosted by subsidies included in the economic stimulus measures rolled out in particular in France and Germany.
Sales of fully electric and plug-in hybrid models increased by 122% in the EU in the first three quarters of 2020.
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Mercedes-Benz describes the EQA as an “urban entry-level model” and board member Seeger touted its “durability, versatility and fresh look”.
Electric automaker Tesla has taken a step ahead of mainstream automakers with their vast investments in fossil fuel vehicles and has dominated global sales. The mainstream Tesla Model 3 is the world’s best-selling electric vehicle, followed in second place by Renault’s Zoe.
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In addition to emissions targets, automakers face bans on fossil fuel vehicles that come into effect as early as 2030 in some markets.
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