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With flagship electrical automobile, Mercedes takes struggle to Tesla By Reuters 



© Reuters. Daimler’s Mercedes-Benz presents new S-Class

By Nick Carey

LONDON (Reuters) – Daimler AG (DE:) on Thursday unveiled the electrical “sibling” of its flagship Mercedes-Benz S-Class luxurious sedan, taking the struggle to market-leader Tesla (NASDAQ:) Inc within the battle for market share as electrical automobile gross sales take off.

The EQS is the primary in a household of Mercedes-Benz vehicles constructed on a devoted electrical car platform constructed from the bottom up. It’ll go on sale in Europe and america in August, then in China in January.

Gross sales of electrical and plug-in hybrid vehicles within the European Union nearly trebled to over 1 million autos final yr, accounting for greater than 10% of total gross sales.

“We set the bar very excessive,” with this automobile, Daimler (OTC:) Chief Govt Ola Källenius informed reporters. “Prospects on this section count on a mix of hi-tech innovation and fashionable luxurious… and that is what we’re attempting to attain with the EQS.”

Daimler has not revealed pricing but for the EQS, saying that can come in the summertime nearer to the launch date.

In interviews and convention calls on Thursday Källenius

prevented making any comparisons with Tesla, whose market cap of greater than $700 billion dwarfs all different carmakers.

However with a spread of as much as 770 kilometres (478 miles) and a brand new show display screen that can cowl nearly your entire dashboard – an non-compulsory characteristic – analysts see an effort to grab the initiative from Tesla, which had a head begin over different carmakers and boasted an extended battery vary and hallmark touchscreen infotainment system.

In a consumer observe earlier this week, Deutsche Financial institution (DE:) referred to the EQS as “Mercedes’ Tesla fighter” and mentioned the automobile “will probably set the benchmark when it comes to technical options, in addition to design and high quality,” for each conventional carmakers and newer entrants like Tesla.

Källenius mentioned he expects greater than 50% of consumers can pay additional to get the show display screen, which Mercedes-Benz unveiled in January.

At 56 inches (142 cm) the brand new “Hyperscreen” – which in width dwarfs Tesla’s vaunted 17-inch display screen – may also characteristic in Mercedes-Benz’s different new electrical fashions.

Källenius mentioned the corporate wouldn’t present forecasts for what number of EQS fashions it goals to promote, or what kind of revenue margins he anticipated the car to generate.

However he mentioned he had excessive expectations for the Chinese language market, the place there’s “super demand” for the standard combustion engine S-Class mannequin.

Daimler now joins rival Volkswagen AG (OTC:) with a devoted electrical platform. BMW will launch a devoted platform in 2025.

Mercedes gross sales chief Britta Seeger mentioned the launch of the EQS coincides with demand for electrical autos that’s rising quicker than firm executives as soon as forecast.

“We thought by 2030 that half of our gross sales can be electrical autos” and plug-in hybrid autos, Seeger mentioned throughout a convention name. “What we presently see… is a stronger request of consumers for EVs. We’re much more constructive that this bounce is usually a little bit quicker.”

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