Pierre Ferragu, managing partner of New Street Research, discusses Elon Musk to become the richest person in the world and the future of Tesla.
Daimler AG’s Mercedes-Benz on Wednesday unveiled the EQA, a new compact SUV, as part of plans to tackle rival Tesla Inc and offer more release vehicles to consumers to meet targets in Europe and China.
The EQA, the first of several electric models to be introduced by Mercedes-Benz this year, will initially have a range of 426 kilometers (265 miles), with a 500 km model coming later, the carmaker said in a video display.
| Ticker | Safety | Last | Alter | Alter% |
|---|---|---|---|---|
| TSLA | TESLA INC. | 850.45 | +5.90 | + 0.70% |
The sport utility vehicle will be offered for sale in Europe on February 4, according to what management board Britta Seeger describes as ‘very attractive price points’.
TESLA’S RECORD RACE CONTINUES
Sales of electric vehicles (EVs) started in Europe last year when carmakers scrambled to meet the European Union’s CO2 emissions targets. The sales were boosted by subsidies that were mainly included in economic stimulus measures in France and Germany.
Sales of fully electric and plug-in hybrid models increased by 122% in the first EU quarter of 2020.
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Mercedes-Benz describes the EQA as an ‘urban entry-level model’ and management member Seeger calls it ‘sustainability, versatility and fresh looks’.
Electric Car Manufacturer Tesla has gained an edge over traditional car manufacturers with their huge investments in fossil fuel vehicles and has dominated global sales. The mass-market Tesla Model 3 is the world’s best-selling EV, followed by Renault’s Zoe in second place.
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In addition to emission targets, automakers have faced a ban on fossil fuel vehicles that will be operational in some markets as early as 2030.