This New Mercedes EV Beats Tesla’s Model 3 in This Key Area
Mercedes-Benz aims to sell only electric vehicles by 2030 and has introduced a new electric-sedan concept vehicle at a German motor show with superior range compared to Tesla's Model 3.
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Posted 9/5/2023, 3:50:48 PM
barrons.com
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The main topic of the article is Volvo's new compact fully electric crossover, the EX30, and its potential to be a mass-volume, mainstream success. The key points are:
1. The EX30 is Volvo's first compact fully electric crossover and is outfitted with sustainable materials, making it affordable and innovative.
2. The EX30 has received positive reception and excitement from markets worldwide.
3. The price tag of $34,950 makes the EX30 one of the more affordable EV options in the United States.
4. Volvo is targeting pre-family and post-family buyers as potential customers for the EX30.
5. Volvo aims to go "half-electric" by 2025 and all-electric by 2030, aligning with its parent company Geely Holding Group's initiatives.
6. The EX30 will be made in China, which means it won't be eligible for U.S. tax credits and is subject to a 27.5% tariff on Chinese-made vehicles.
7. The EX30 offers two battery packs and two powertrain setups, with the Twin Motor Performance variant boasting 422 horsepower and a zero to 60 mph time of 3.4 seconds.
8. The EX30 features a 12.3-inch vertical touchscreen, wireless Apple CarPlay, 5G connectivity, and fast-charging capabilities.
9. Volvo plans to access Tesla's Supercharger network with an adapter in 2024, making it more appealing to potential buyers.
Main topic: BMW's progress in electric vehicle sales and investment in e-mobility.
Key points:
1. BMW's electric vehicle sales increased to 12.6% of total deliveries in the first half of 2023, up from 10% in 2022.
2. The company aims to achieve a 15% share of battery-electric sales by the end of 2023.
3. BMW is investing more than originally planned in the global ramp-up of e-mobility due to increasing demand for electric cars.
4. The automaker increased its research and development spending by nearly 19% in Q2 2023, reaching about $2 billion.
5. BMW has not set an end date for selling combustion engine vehicles, stating that there is no indication that the world is renouncing them.
6. This contrasts with other automakers like Mercedes-Benz, Ford, and GM, which have plans to phase out combustion-engine sales by 2040.
Mercedes-Benz has upgraded the EQB electric SUV for the 2024 model year with a refreshed design and updated features, including a modern grille and headlights, and it will be available at US dealerships in the first half of 2024.
Huge price reductions and increased availability are driving growth in the electric vehicle market, which saw record sales in 2023, as major manufacturers like Tesla, Ford, and General Motors lower their prices and pass on cost savings from raw materials to consumers.
Mercedes-Benz is set to open its first branded EV charging stations this fall, with three locations in Atlanta, Chengdu, China, and Mannheim, Germany, and plans to expand its global network to over 2,000 points and open over 2,000 Charging Hubs by 2030.
Tesla has unveiled its updated Model 3 EV sedan in China, featuring a sportier exterior, improved battery range, and faster acceleration, although surprising many with a 12% price increase; the upgraded model is expected to boost sales and profit margins for the electric vehicle giant.
Mercedes-Benz CEO Ola Kaellenius plans to launch an electric vehicle architecture with the CLA compact electric sedan that will offer 30-35% more driving range per kilowatt-hour of energy stored in the battery, and will also introduce a lithium-iron-phosphate battery in the CLA model lineup, aiming to compete with Tesla and Chinese EV brands in terms of range and efficiency.
German automaker BMW has unveiled its electric concept car, the "Vision Neue Klasse," which will serve as the foundation for the brand's next generation of electric vehicles, featuring improved battery cells that enhance charging speed and range, with plans to launch the first models in 2025.
Mercedes-Benz is set to unveil the CLA EV concept sedan at IAA Mobility, featuring a range of over 466 miles and serving as the forerunner for an upcoming line of electric-first vehicles.
Mercedes-Benz plans to launch a smaller version of its popular G Class luxury SUV, expanding its reach to a different group of buyers and potentially competing with rivals in the luxury SUV segment.
BMW and Mercedes are intensifying their efforts in the electric vehicle market, unveiling new platforms and concept cars in response to competition from Chinese automakers and Tesla, although they may still lag behind in certain aspects.
Europe's automakers are showcasing their latest electric vehicles at the IAA Mobility car show in an attempt to compete with Tesla and counter the increasing competition from Chinese companies such as BYD and Xpeng.
Mercedes CEO announces the development of a smaller, fully electric G-Class SUV, set to hit the market in a few years.
The 2024 Mercedes-Benz E-Class All-Terrain is a wider, taller, and more practical version of the E-Class sedan, offering a spacious interior, a striking design with off-road-ready features, and impressive performance capabilities.
Chinese electric vehicle maker Xpeng plans to expand into European markets, including Germany, Britain, and France in 2024, as they aim to challenge European companies on their home turf with cheaper models.
Europe's car manufacturers, including Volkswagen, Renault, and BMW, are concerned about the competitive threat posed by Chinese companies in the growing electric vehicle market, as China's ability to produce battery cells at a lower cost puts European manufacturers at a disadvantage without state subsidies, while luxury carmakers like Porsche are focusing on high-quality components to differentiate themselves from Chinese rivals.
Mercedes has unveiled concept vehicles at the IAA Mobility auto show in Munich, featuring a range of over 466 miles on a single charge, surpassing Tesla models, while BMW revealed an electric vehicle with improved range and faster charging.
Mercedes has teased upcoming models on the MMA platform with an electric range of approximately 466 miles, including the next-generation GLA, GLB, and CLA Shooting Brake.
Lucid is exploring the possibility of entering the Chinese electric car market, but has not yet set a timeline for its entry, according to a top executive at the company. Lucid recognizes China as the world's largest and fastest adopting EV market, but wants to ensure it enters on the right terms to avoid mistakes. The company is currently assessing the viability of entering the market and considering factors such as pricing and manufacturing strategy. Additionally, Lucid plans to expand its product range to include lower-priced vehicles, with a mid-sized car potentially being unveiled in 2026. However, entering the mass-market segment will take time and require a strong supply base and the right pricing.
Tesla is set to release a new $25,000 electric car, potentially revolutionizing the world of EVs with its affordable price and expected range of 250-300 miles on a single charge.
BMW will invest £600m ($750m) in its UK plants to transition its Mini brand to all-electric by 2030, with the Mini Cooper 3-door and Mini Aceman crossover set to be produced as electric models from 2026 onwards.