*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
Return-to-Office Mandates Might Be Hurting the Middle Class
More businesses are requiring workers to return to the office, but there is concern that many employees in the middle class, especially women and people of color, need remote work options for reasons including childcare and financial security. Joan Williams, director of the Center for WorkLife Law at the University of California, joined Cheddar to discuss why office mandates could be detrimental to the middle class. She noted that while companies claim a return to offices would help foster more collaboration and efficiency, reports show that they are successfully able to do their jobs from home.
Fresh Vine Wine, Co-Owned by Nina Dobrev And Julianne Hough, Goes Public
Fresh Vine Wine, a maker of low-carb, low-calorie, and gluten-free wines, made its public debut on the NYSE. Celeb do-owners Nina Dobrev and Julianne Hough, alongside CEO Janelle Anderson, joined Cheddar's Azia Celestino to talk about their partnership, the decision to launch an IPO, and tout the healthy lifestyle market their product is going for.
'Terrible Time' to Buy a Car as Prices Surge Due to Chip Shortage
The automotive industry continues to reel as the ongoing global semiconductor chip shortage continues to cause prices to rise. Ben Preston, autos reporter for Consumer Reports, joined Cheddar to discuss the state of the car industry. "I think that right now is a terrible time to buy a new car because dealership lots are looking a bit thin," Preston said. He noted that once manufacturers had initially halted production due to the pandemic, chip companies shifted toward providing service to tech companies, leading to supply constraints as every new car built needs about 30 to 100 chips in its construction.
Load More