Advertisement
Singapore markets closed

  • Straits Times Index

    3,144.76
    -38.85 (-1.22%)
     

  • S&P 500

    5,061.82
    -61.59 (-1.20%)
     

  • Dow

    37,735.11
    -248.13 (-0.65%)
     

  • Nasdaq

    15,885.02
    -290.08 (-1.79%)
     

  • Bitcoin USD

    63,006.74
    -3,071.62 (-4.65%)
     

  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     

  • FTSE 100

    7,861.63
    -103.90 (-1.30%)
     

  • Gold

    2,388.90
    +5.90 (+0.25%)
     

  • Crude Oil

    85.05
    -0.36 (-0.42%)
     

  • 10-Yr Bond

    4.6280
    0.0000 (0.00%)
     

  • Nikkei

    38,471.20
    -761.60 (-1.94%)
     

  • Hang Seng

    16,248.97
    -351.49 (-2.12%)
     

  • FTSE Bursa Malaysia

    1,535.00
    -7.53 (-0.49%)
     

  • Jakarta Composite Index

    7,164.81
    -122.07 (-1.68%)
     

  • PSE Index

    6,404.97
    -157.46 (-2.40%)
     

Mercedes just unveiled its electric concept SUV to take on Tesla

Danielle Muoio
Updated

Behold: Mercedes’ first all-electric SUV concept car.

mercedes eq
mercedes eq

Screenshot

The German automaker unveiled the SUV concept, Generation EQ, at the Paris Motor Show Thursday. As Autocar previously reported, the all-electric SUV concept is based on the GLC Crossover.

Dieter Zetsche, head of the Mercedes-Benz car division, said at the Paris Motor Show that the all-electric SUV will be on the road in three years and in the same price range of the GLC Crossover, which starts at $39,150. The SUV has a range of up to 310 miles, Zetsche said at the event.

Mercedes is looking to ramp up its electric car offerings. Daimler’s chief development officer Thomas Weber said in May that Mercedes-Benz is aiming to add four new electric cars to its model range by 2020.

mercedes eq
mercedes eq

Screenshot

ADVERTISEMENT

It seems the Paris Motor Show is turning into the spot for electric concept car reveals.

Volkswagen unveiled its I.D. electric concept car at the Paris Motor Show that has a range between 248 miles and 372 miles on a single charge. The German automaker is planning to release its production version of the car in 2020, with a fully autonomous version slated to arrive in 2025.

Automakers’ focus on electric concept cars that boast longer ranges shows that competition is mounting in the electric car space.

Tesla recently announced a battery upgrade that will increase the range of the Model S with Ludicrous mode to 315 miles, and the Model X with Ludicrous mode to 289 miles. The Chevy Bolt will have a range of 238 miles when it hits dealerships by the end of 2016.

Mercedes’ electric SUV is still in the concept phase, so it isn’t fair to compare it with existing models. But considering Mercedes is aiming to have the car on the road in three years, and provides consumers with an all-electric SUV option at a competitive price, it could be a threat for Tesla down the line.

NOW WATCH: Mercedes-Maybach rivals Tesla with a new jaw-dropping concept car

The post Mercedes just unveiled its electric concept SUV to take on Tesla appeared first on Business Insider.