Mercedes-Benz is aiming to sell only electric vehicles by 2030.
Mercedes-Benz photo
Tesla
is facing a challenge from
Mercedes-Benz,
which introduced a new electric-sedan concept vehicle at a German motor show, with superior range.
Mercedes-Benz
(ticker: MBG.Germany) said the electric-sedan concept—branded as CLA Class—has a range of more than 466 miles, based on global industry standards. That’s superior to even 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 family is inspired by a generation of car buyers who want that unmistakable
Mercedes-Benz
feel…They also seek a sustainable choice that is a cut above the rest. This hypermiler [a term denoting extreme fuel efficiency] is the one-liter car of the electric age,” said Mercedes-Benz Chairman Ola Kallenius in a company statement on Sunday accompanying the vehicle’s unveiling at the IAA car show in Germany.
The CLA Class is only a concept vehicle at the moment. Production is expected next year, with the car being the first of a new all-electric segment of entry-level vehicles at Mercedes-Benz, including two new SUVs.
Mercedes-Benz more than doubled sales of battery electric vehicles last year to 117,800, representing almost 6% of its total vehicle sales to retail customers. That leaves it as a small player next to Tesla’s more than 1.3 million deliveries in 2022 but Mercedes-Benz aims to be selling 50% electric vehicles by 2025 and be fully electric by 2030.
Mercedes-Benz stock was up 1.2% in overseas trading Monday. Tesla shares weren’t trading due to the Labor Day holiday.
Write to Adam Clark at [email protected]
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