• 3 minutes UAE says four vessels subjected to 'sabotage' near Fujairah port
  • 6 minutes Why is Strait of Hormuz the World's Most Important Oil Artery
  • 8 minutes OPEC is no longer an Apex Predator
  • 12 minutes Mueller Report Brings Into Focus Obama's Attempted Coup Against Trump
  • 16 hours Did Saudi Arabia pull a "Jussie Smollett" and fake an attack on themselves to justify indiscriminate bombing on Yemen city population ?
  • 3 hours Canada's Uncivil Oil War : 78% of Voters Cite *Energy* as the Top Issue
  • 12 hours China Downplays Chances For Trade Talks While U.S. Plays ‘Little Tricks’
  • 17 hours Solar Industry Lays Claim To The 2020s; Kicks Off The Solar+ Decade
  • 16 hours "We cannot be relying on fossil fuels to burn as an energy source at all in our country" - Canadian NDP Political Leader
  • 6 hours California Threatens Ban on ICE Cars
  • 14 hours Shell ‘to have commercial wind farms’ by early 2020s
  • 1 day DUG Rockies: Plenty Of Promise, Despite The Politics
  • 1 day Dear journalists: say "climate crisis" not "climate change"
  • 6 days How can Trump 'own' a trade war?
  • 1 day Iran v USA the perfect fire triangle
  • 21 hours U.S. and Turkey
  • 1 day Oil Price Editorial: Beware Of Saudi Oil Tanker Sabotage Stories
The Driving Force Behind Nigeria’s Energy Renaissance

The Driving Force Behind Nigeria’s Energy Renaissance

Nigeria has traditionally been one…

Trade War Escalation Looms Large Over Oil Markets

Trade War Escalation Looms Large Over Oil Markets

The economic implications of the…

Mercedes-Benz Launches New Car To Rival Tesla

Mercedes Benz

Mercedes-Benz is unveiling on Tuesday its first all-electric model Mercedes-Benz EQC at an event in Stockholm—the first of a series of global premieres of electric vehicles by German luxury car brands to challenge Tesla in the premium EV segment.

Although its global premiere is today, the Mercedes-Benz EQC will be launched on the market in 2019 and will be the first all-electric Mercedes-Benz model from the car brand’s new product and technology brand, EQ.

Another German brand, BMW, is teasing the premiere of a new concept EV, BMW Vision iNEXT.

A third automaker, Audi, started on Monday mass production of the Audi e-tron, the brand’s first all-electric SUV. The world premiere of the e-tron will take place in Tesla’s very own backyard, San Francisco, on September 17.

The German carmakers are presenting electric vehicles that could start challenging Tesla’s market share in the premium EV sales, but analysts diverge in their opinions about just how fast and how much the German luxury brands can take away from Tesla.

According to Wajih Hossenally, an automotive powertrain analyst at IHS Markit, the arrival of German premium EV offerings would weaken Tesla’s position in the luxury segment.

“Tesla has virtually zero competition - but this will change from 2019 onwards,” the analyst told Reuters.

LMC Automotive thinks that the German car brands could exceed Tesla’s market share and hold 11.8 percent of the market in 2020. Three years later, Germany’s luxury electric vehicles share could rise to 19 percent, according to LMC Automotive forecasts, carried by Reuters.

Analysts who spoke to German newspaper Handelsblatt are less optimistic about the chances of German luxury EVs taking on Tesla in the short to medium term. Arndt Ellinghorst at Evercore ISI thinks that the first German EVs will be expensive compromises between the old and new world, while Peter Fuss, an automotive expert at consultancy EY, believes that the Germans will have success in a niche market, but noted that Tesla has a few years of head start.

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News