Mercedes-Benz Group AG (OTCPK:DDAIF) said it has entered into a new, all-electric era in the upper market segments with the introduction of the EQS SUV in the U.S.
The new ESQ SUV features a driving range of over 373 miles and an output of up to 536 horsepower. The EQS SUV has a lithium-ion battery with 12 cell modules and hardcase cells to give it capacity of over 107.8 kWh.
Mercedes-Benz on the new model: "The SUV offers plenty of space, comfort and connectivity for up to seven passengers in its avant-garde, luxurious interior. Thanks to powerful electric motors, responsive 4MATIC all-wheel drive and an intelligent OFFROAD driving mode, the EQS SUV is capable of tackling light terrain with ease."
Mercedes-Benz (DDAIF) did not release pricing for the EQS SUV, although it is likely to be over $100,000.
The SUV is expected to go into production at Mercedes-Benz’s plant in Tuscaloosa, Alabama in the next few months and arrive in U.S. showrooms later in the year.
Looking ahead, Mercedes-Benz (DDAIF) aims for 50% reduction in new vehicle emissions by 2030.
Shares of Mercedes-Benz (DDAIF) are down 12.97% on a year-to-date basis, which is better than the 18.56% drop for rival BMW.