Tolu is a cryptocurrency and blockchain enthusiast based in Lagos. He likes to demystify crypto stories to the bare basics so that anyone anywhere can understand without too much background knowledge. When he's not neck-deep in crypto stories, Tolu enjoys music, loves to sing and is an avid movie lover.
About a year after Mercedes announced its EQC all-electric vehicle, the company has now placed a price tag on the car.
Mercedes-Benz has now announced the cost for its new EQC 400 4MATIC offering, which was first announced last year. The company has now said that the new car price will begin at $67,900 and the vehicle will still be available sometime in early 2020, as previously announced. The EQC 400 4MATIC sports utility vehicle (SUV) is the very first all-electric product from the popular German carmaker.
Though the price has been noted as considerably high, $67,900 is still quite competitive, especially when compared to similar offerings from other automakers. Tesla‘s Model X for example, is considerably higher, starting at $84,990. Regardless, the EQC 400 4Matic is still cheaper than other options such as Jaguar’s I-Pace at $69,500 and Audi’s E-Tron at $74,800. The EQC 400 4MATIC’s price, however, excludes the $995 destination and delivery fee.
The EQC 400 has an impressive 561 pound-feet of torque, carrying a 402 horsepower. The car was specifically designed to accommodate different kinds of driving as its owner might need to, meaning that both desired speed and ruggedness were considered with its configuration as it boasts of a 48-second 0 to 60 miles per hour speed.
The new offering is a product of Mercedes-Benz dogged goal to produce its own all-electric vehicle, many years after other options have been available. The company had previously announced its plans to use the new EQC to kick off its plans to position itself as a world leader in the production of these all-electric vehicles, investing over $12 billion. Dieter Zetsche, Daimler AG Chairman and Mercedes-Benz CEO, has also noted that Mercedes plans to pump another $1.2 billion in investments, to contribute to the worldwide production of batteries.
The battery that comes with the EQC 400 is an 80 kilowatt-hour battery and will run continuously for approximately 200 miles before it needs to charge. Charging is also quite fast and the battery can go from 0% to 80% in just about 40 minutes.
The car also boasts of Mercedes’ MBUX infotainment system which apart from entertainment functions, also includes proper navigation and voice technology for all of its controls. The MBUX will allow owners to set navigation specifics, switch driving modes and also check charging current. In addition, the system can suggest the fastest possible route to a destination, giving the driver the opportunity to spend the least amount of time, and will also find the closest DC charging stations to a driver’s current location if the battery is running out of juice.
The race for all-electric vehicles by some of the world’s biggest carmakers is on. Porsche recently announced its own all-electric Taycan back in September and has since unveiled two different models of the offering. Also, Aston Martin unveiled its DBX, the company’s first-ever SUV, an all-electric offering.
Daimler AG stock (DAI.DE) is currently at $55.15 and hasn’t moved much from its previous close at $55.30, albeit a downward movement. DAI.DE hasn’t exactly been generally great as well. It has traded in green for three months with a cumulative 19.04% but this figure drops to 4.51% when year-to-date returns are calculated for, further dropping to a 1-month return of -1.61% and 1-year of -5.01%.