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Mercedes will launch a luxury S-Class sedan for competition with Tesla

GERMANY (OBSERVATORY) –¬†German automotive concern Daimler AG plans to introduce a luxury S-class sedan with an electric motor that can compete with Model T from Tesla.

As CEO Daimler Dieter Zetsche said during the presentation in Croatia, the Mercedes EQ S model will be included in the list of 10 electric vehicles that the company will release by 2022.

It is expected that the model will not simply become an “electrified” version of the existing S-Class sedans, but will receive a new housing in which high-capacity batteries will be placed.

Mercedes became the leader in the luxury segment of cars in the last year, bypassing the sales of BMW and Audi, reports Bloomberg.

On Thursday, shares of Daimler went up by 0.2%. Since the beginning of the year, the company’s capitalization has decreased by 7.6%, to 69.8 billion euros.