Tesla is facing a challenge from Mercedes-Benz, which has unveiled a new electric sedan concept vehicle at a German auto show with a longer range.
Mercedes-Benz (ticker: MBG.Germany) said the electric sedan concept, dubbed the CLA Class, has a range of more than 466 miles, based on global industry standards. That’s even better than the long-range version of the Tesla Model 3 (TSLA) sedan, which has a range of 391 miles on the same basis.
“This…
Tesla faces the challenge of
which presented a new concept electric sedan vehicle at a German motor show, with a superior range.
(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 that has a range of 391 miles on the same basis.
“This new family of models is inspired by a generation of car buyers who want that unmistakable Mercedes-Benz feeling… They are also looking for a sustainable option that stands above the rest. This hypermiler (a term denoting extreme fuel efficiency) is the one-liter car of the electric age,” Mercedes-Benz president Ola Kallenius said in a company statement on Sunday that accompanied the vehicle’s unveiling at the IAA car show in Germany.
The CLA-Class is for the moment only a concept vehicle. Expected to be produced next year, the car is the first in a new all-electric segment of entry-level vehicles from Mercedes-Benz, including two new SUVs.
Mercedes Benz more than double Sales of battery electric vehicles last year totaled 117,800, representing nearly 6% of its total vehicle sales to retail customers. That leaves it as a little player In addition to Tesla’s more than 1.3 million deliveries in 2022, Mercedes-Benz aims to sell 50% electric vehicles by 2025 and go fully electric by 2030.
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Shares of Mercedes-Benz rose 1.2% in foreign trading on Monday. Tesla shares were not trading due to the Labor Day holiday.
Write to Adam Clark at adam.clark@barrons.com
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