Daimler AG (OTCMKTS:DDAIF) To Rival Tesla Motors Inc (NASDAQ:TSLA) With Six Electric Vehicles

Share on Facebook

Tweet on Twitter

Daimler AG (OTCMKTS:DDAIF) is reportedly planning to introduce six electric vehicles as part of its plan to take on Tesla Motors Inc (NASDAQ:TSLA).

Sources familiar with the matter reported that the German automaker is working on six electric cars. No official announcements about the matter have been made which means the roster is not yet available and thus it is not clear what the vehicles will look like. However, Daimler's Mercedes brand had previously revealed plans to make two SUVs and two sedans. Sources from "Automobilwoche" claim that the company will mainly focus on crossovers and SUVs.

The company is expected to reveal its new Mercedes Maybach 6 at the Paris motor show towards the end of this month. The vehicle was showcased at Pebble Beach a few weeks ago as an all-electric vehicle with an estimated battery range of 200 miles. The vehicle is currently a concept though the company will probably pursue its production. Daimler announced in July that it would speed up the development of premium electric cars.

The announcement highlighted the company's plans to officially enter into the premium electric vehicle sector which has mostly been dominated by Tesla. "Automobilwoche magazine" claims that the firm plans to introduce the six cars into the market between 2018 and 2024.

The announcement also highlights the growing acceptance of electric power which is perhaps pushed by the escalating concerns about diesel fuel emissions. There was also a lot of speculation about electric vehicles in the past but they have become more accepted over the years. The increasing demand and growing market for electric cars has encouraged more automotive manufacturers to work on their own electric vehicles.

The sources did not reveal whether the rest of the offerings will be fully electric or whether they will offer hybrid modes. Sources from Reuters claim that the SUV versions will most likely feature a plug-in hybrid engine with an EV range of 50 km.

The following two tabs change content below. Andy has been a technical analyst at various financial institutions for coming up twelve years. He holds a Masters Degree in Financial Accounting. Hobbies include investigative financial journalism and cycling. He calls New York home, for now. I can be reached via email at [email protected]
Source: Daimler AG (OTCMKTS:DDAIF) To Rival Tesla Motors Inc (NASDAQ:TSLA) With Six Electric Vehicles