*By Amanda Weston* After Mercedes-Benz's unveiling this week of its [first all-electric car](https://www.theverge.com/2018/9/4/17818836/mercedes-benz-eqc-suv-ev-specs-photos), automotive journalist and future Cheddar contributor Tamara Warren said the market is about to get a lot more competitive. "It's huge news for Mercedes-Benz, and a real signal in this space that we are about to have a lot of options when it comes to the electric category, luxury, and the sweet space with crossover vehicles," Warren said Wednesday in an interview on Cheddar. The model, dubbed EQC, is an all-wheel drive SUV with a range of more than 200 miles. Dieter Zetsche, the head of Mercedes and chairman of parent company Daimler AG, called it the ["dawn of a new era"](https://www.theverge.com/2018/9/4/17818836/mercedes-benz-eqc-suv-ev-specs-photos). The announcement Tuesday further weighed on shares of Tesla, whose stock marked a seventh straight day of losses Wednesday. Warren said the electric automaker may certainly have cause to worry about its new competitor, but "that's the nature of the business." "If there's no competition, where's the market going to go?" she said. "What I think it forces Tesla to do is to continue to push their vehicles and not stall on thinking about new features and products and innovation." Whether Tesla can find that focus is something Warren says investors should watch. "Tesla is a really tricky company to follow right now, and you're talking about companies that have sort of infrastructure internally as far as safety and all of the quality that needs to be there coming into this space, not just Mercedes-Benz. But we're also seeing Audi as a player in this field, BMW, and Volvo," Warren said. "So it's going to get really interesting by spring when we start seeing some of these vehicles." The EQC is set to begin production in 2019 and go on sale in the U.S. in 2020. Mercedes-Benz has not yet announced what the vehicle will cost. For full interview [click here](https://cheddar.com/videos/mercedes-benz-unveils-electric-vehicle).

Share:
More In Business
Markets Open Higher, Extending Santa Claus Rally
Markets opened higher as investors react to positive data on the labor front, with weekly jobless claims falling to 198,000 for the week ending December 25. Ross Mayfield, investment strategy analyst at Baird joined Cheddar's Opening Bell to discuss the market open.
Sky Harbour Group to Land on NYSE Via SPAC Deal
Sky Harbour, a company developing private aviation infrastructure, is gearing up to land on Wall Street. The company announced plans to go public through a SPAC deal with Yellowstone Acquisition Company, valuing the combined venture at $777 million. The company will trade on the New York Stock Exchange as $SKYH.
Report: Dish, DirecTV Hold Merger Talks
Dish Network is reportedly in discussions to merge with DirecTV. According to the NY Post, the two sides are currently 'trying to iron out the details.' The competitors have had talks in the past -- over the course of the past 20 years, but those talks been halted by the DOJ over antitrust concerns. Lydia Moynihan, Business Reporter, NY Post joined Cheddar's Opening Bell to discuss.
Load More