Mercedes unveils EQC crossover, its first Tesla rival in a $12 bn attack

Company will start production in the first half of next year, as part of a plan to develop a range for its EQ electric line

Mercedes-Benz, the world’s largest maker of luxury cars, is rolling out its first in a series of battery-powered models, adding to a growing array of high-end brands targeting Tesla Inc.

The Mercedes EQC crossover starts production in the first half of next year, part of a plan to develop a range for its EQ electric line, Daimler AG Chief Executive Officer Dieter Zetsche told reporters in Stockholm at the car’s world premiere. The company intended to invest 10 billion euros ($12 billion) on the electric-car push, but the spending has become “more than that,” he said Tuesday, without specifying figures.

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