As Mercedes unveils its electric SUV, Tesla’s stock slumps

Ivan Schwartz
September 7, 2018

Mercedes-Benz has gone through some serious investment into building their electric auto line-up, both structurally and monetarily.

To show how serious the company is on its shift to EVs, Mercedes will spend 1 billion euros on battery production to create a network of eight facilities globally.

Rival forecaster LMC Automotive agrees, predicting a steady decline in Tesla's share of an exploding electric-car market over the next decade, from today's 12.3 percent to 2.8 percent, even as its absolute sales continue to rise. It looked uncompetitive at 200 miles of range.

"If there's no competition, where's the market going to go?" she said. This seems to be the standard level now for electric luxury SUVs, on par with the Jaguar and the Tesla Model X. The time to a full charge, and the time to charge on a regular household outlet, have yet to be released.

"With the EQC ... we are flipping the switch", Mercedes-Benz Cars boss Dieter Zetsche said in a statement.

The all-wheel drive SUV comes nearly two years after the concept SUV made its debut at the Paris Motor Show and marks the "dawn of a new era" for the company.

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While some experts doubt the Germans can ever match the wow factor around Tesla and its founding boss Elon Musk, many also wonder whether they need to.

The EQC, with a sporty and stretched silhouette, has design cues that hint at its electric drivetrain. An LED light strip connects the headlights. Mercedes analyzed user data in Australia and New Zealand.

On the inside, the EQC, as Mercedes says, features "avante-garde electro-look" with the MBUX user interface system. It is also perhaps most fitting that the EQC is an SUV - after all, the SUV and crossover market has proven to be accepting to newer designs and change, and would be accepting of an electric SUV.

Inside, louvered trim runs across the dashboard and the doors. On Monday, Audi began mass production of its e-tron, the brand's first totally electric sports utility vehicle (SUV).

The EQC crossover would reportedly start production in the Bremen factory in Germany, and it will eventually spread to China and possibly to the company's US plant in Tuscaloosa, Alabama, claim sources. "In this way we can continue to ensure both high efficiency and top quality with well-proven production processes". Combined power output is pegged at 300 kW and 564 lb-ft (765 Nm).

Other reports by GizPress

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