Mercedes plans EV subbrand to challenge BMW, Tesla, report says

A Mercedes-Benz S500 hydrid sedan sits parked over a wireless electrical charging station during Daimler's TecDay Road to the Future event in Stuttgart, Germany, on June 9, 2016. Mercedes-Benz will create a subbrand for electric cars to challenge BMW and Tesla Motors in a bet that alternative-fuel cars have the potential to become profitable, Bloomberg reported Friday. (BLOOMBERG)

By:

Elisabeth Behrmann and Christoph Rauwald

August 05, 2016 05:00 AM

Mercedes-Benz will create a subbrand for electric cars to challenge BMW and Tesla Motors in a bet that alternative-fuel cars have the potential to become profitable.

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