Mercedes Benz unveil the direct competitor of Tesla Model X
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Loading...Mercedes-Benz, one of the largest luxury carmakers in the world, ranks first amongst a series of high-end electric models competing directly with Tesla's Model X.
The EQC crossover has begun production in the first half of next year as part of the EQ power line development plan. Daimler AG's CEO, Dieter Zetsche, said the EQC's initial concept was set at € 10bn, but the cost is far higher than that. However, Zetsche believes that the investment is justified.
EQC joins Porsche Taycan, Audi E-tron and Jaguar I-Pace with pressure on Tesla while California car maker struggles to meet its production goals to make Model 3 a winning product. Mercedes plans to produce the EQC at its Bremen factory as a fully profitable series.
EQC will be the size of the small crossover GLC, as from Daimler Promote a mileage of more than 450km. and acceleration to 100 under 5 seconds.
As far as Daimler's shares are concerned, short positions appear to be the most appropriate option, not because the company is losing, but because high eco-standards and plans to electrify the whole range have led to record-breaking costs for the company.
Here's where Daimler is among the leaders in the market for electric SUVs
Technical view on Daimler AG and the prospects for the sector
The price is in a strong downward trend, after breaking another level of support, already resistance. I expect the price pressure to remain in the current price channel due to the uncertainty caused by Trump's import tariffs, the high costs that the car industry is generally forced to make and the scandals around the Volkswagen Group, which proved to have manipulated their gasoline engines to cover the economists. Input from current levels with shorts would be risky, so it's a good idea to wait for a correction to the main diagonal in the area around € 58, then look for appropriate short positioning signals.
Source: Bloomberg Finance L.P.
Photo/Charts: Used with permission of Bloomberg Finance L.P.
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