Mercedes Benz Forays into the EV Segment with Newly Launched SUV
The luxury car maker Mercedes Benz is all set to foray into the electric car segment. Benz has launched its much-anticipated electric SUV today which might give a tough fight to the predominant EV player Tesla.
While Tesla has been facing challenges a few days back against going private, Benz has taken a great step and took advantage of the situation brewing up. The market for upscale electric cars is Tesla's to lose, with sales of its entry-level Model 3 sedan expected to reach about 50,000 cars this year and almost double that in 2019.
"While Tesla currently has a strong hold on the luxury electric market, I don't think this will be the case after the arrival of the German premium offerings," said Wajih Hossenally, an automotive powertrain analyst with IHS Markit. "Tesla has virtuall...