Cars | Mercedes challenges Tesla – the German giant released a fully electric SUV

German Mercedes-Benz Group is expanding its electric car offering with a new fully electric SUV.

Car manufacturer publicly of the vehicle called EQE SUV on Sunday before the Paris International Motor Show that started on Monday.

The announced vehicle competes especially with the American Tesla’s Y model in car stores.

News agency Bloomberg by The operating range of Mercedes’ new product exceeds that of Tesla’s Y model and it is in the same price range as Tesla’s competing model.

Mercedes’ new model is scheduled to go on sale later this year. The EQE SUV is the fourth model of Mercedes’ brand focused on electric cars.

The vehicles will be manufactured at Mercedes’ Alabama plant.

Mercedes the purpose is to switch to producing only electric cars by the end of the decade in markets where it is possible.

Mercedes plans to bring electric car models to all of its combustion engine models by the end of the year.

CEO of Mercedes Ola Kallenius according to the announcement of the new model is the latest sign of the company’s strategy.

At the Paris International Motor Show this year, e1s will have vehicles from Chinese electric car manufacturers in particular.

Among others, China’s largest electric car manufacturer BYD is trying to enter the competitive European market. Nio, Great Wall Motor and Seres Group will also present their car models in Paris.

Mercedes is a significantly larger company in terms of turnover than Tesla. According to information service Refinitiv, the turnover of the German car giant last year was around 133.9 billion euros. Tesla’s turnover, on the other hand, was 53.8 billion dollars. Euro and dollar are almost equal.

However, Tesla’s market value is clearly higher than Mercedes. The company’s market value is approximately 642.3 billion dollars. Mercedes’ market value is approximately 57.5 billion.