Tesla luxury rival Mercedes unveils huge electric vehicle news

As Tesla  (TSLA) - Get Free Report prepares to deliver its new Cybertruck pickup to market, likely in September, the electric vehicle industry's leader faces competitors rolling out new vehicles to challenge its best-selling vehicle in the world, the Model Y SUV.

Honda Motor Company's  (HMC) - Get Free Report affiliate Acura on Aug. 17 unveiled its first all-electric model with two versions, the ZDX A-Spec single motor with 340 horsepower and a 325-mile range, and the ZDX Type S, with 500 horsepower and a 288-mile range, making it the most powerful Acura sports utility vehicle ever.

General Motors  (GM) - Get Free Report unveiled its new luxury vehicle, the all-new 2025 Cadillac Escalade IQ on Aug. 9 with a range up to 450 miles and up to 750 horsepower. The price might raise some eyebrows at $130,000.

Volvo  (VLVLY) - Get Free Report on July 25 debuted its newest and smallest SUV, the Volvo EX30,and will begin taking orders for the vehicle in fall 2023 and deliveries are expected to begin in summer 2024. The Volvo EX30 will accelerate 0 to 60 mph in 3.4 seconds and have an estimated range up to 275 miles. The vehicle's starting price is $34,950.

Mercedes has more Tesla rivals coming

Mercedes-Benz in May said that in 2024 it would deliver its new all-electric GLC crossover, which it hopes will cut into the Tesla Model Y market.

The GLC crossover is expected to have a range of 300 miles on a charge. The EV is the automaker's answer to its EQC crossover EV that was cancelled due to its short charge range of 220 miles.

Mercedes updates its EQB compact SUV

Mercedes-Benz (MBG), however, has another Tesla rival model with its EQB all-electric compact sports utility vehicle with an estimated 245 mile range on a charge with 70.5 kWh battery capacity, 0-60 mph acceleration in 8 seconds and the lowest price of its EVs at a $52,750 manufacturers suggested retail price.

The automaker is updating the 2024 EQB model that will be delivered in the first half of the year with a fresh design, black panel surface, new steering wheel, updated technology and high-tech special features, it said in an Aug. 24 statement. Technology upgrades include a new convenient Plug & Charge function for public charging points that begins the charging process when plugged in without a need for customers to additionally authenticate themselves.

Mercedes me Charge provides access to one of the largest charging networks in the world with over 1.3 million AC and DC charging points including over 75,000 in the U.S.

Updated sensor technology includes an improved new mono-multipurpose camera and backup camera and the optional Driving Assistance Package includes such features as Active Lane Keeping Assist with steering intervention. EQB also adds a new Burmester surround sound system with Dolby Atmos audio experience.

Mercedes-Benz User Experience, or MBUX, infotainment multimedia system has been updated and may be customized for subtle, sports or classic styles and three modes navigation, assistance and service. The central display is part of the vehicle's standard equipment.   

The EQB seats five in the standard model but can be upgraded to a seven-seat option, with the two seats in row three that can accommodate people up to 5 feet, 4 inches tall or child seats.