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Mercedes-Benz of Daimler AG unveiled on Wednesday the EQA, a new compact electric SUV as part of plans to take on rival Tesla Inc and offer more emission-free vehicles to consumers to meet targets in Europe and China.
The EQA, the first of several electric models that Mercedes-Benz plans to launch this year, will initially have a range of 426 kilometers (265 miles), with a 500 km model arriving later, the premium car maker said in a presentation of video.
| Ticker | Safety | Last | change | Change % |
|---|---|---|---|---|
| TSLA | TESLA INC. | 850.45 | +5.90 | + 0.70% |
The SUV will go on sale in Europe on February 4, on the board of directors that Britta Seeger described as “very attractive prices”.
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Electric vehicle (EV) sales took off in Europe last year, as automakers struggled to meet the European Union’s CO2 emissions targets. Sales received a boost from subsidies included in economic stimulus measures implemented in France and Germany in particular.
Sales of all-electric and plug-in hybrid models increased 122% across the EU during the first three quarters of 2020.
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Mercedes-Benz describes the EQA as an “urban entry model” and board member Seeger praised its “sustainability, versatility and renewed appearance”.
Electric car maker Tesla has outpaced traditional automakers with its vast investments in fossil fuel vehicles and dominated global sales. The Tesla Model 3 for the mass market is the best-selling EV in the world, followed in distant second place by Zoe from Renault.
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Like emission targets, car manufacturers face bans on fossil-fuel vehicles that go into effect as early as 2030 in some markets.