*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).
President Joe Biden announced that the U.S. will tap into its strategic oil reserve in coordination with other nations and release 50 million barrels in an effort to lower energy prices.
On this episode of Cheddar Reveals, Yair Nechmad, Nayax CEO, discusses the future of cashless payments, and how cashless payments give retailers a competitive edge and allow merchants to scale business; Jason Thomas, Global CEO of Tappit, breaks down how the pandemic accelerated the transition to cash-free live events, and why that trend is here to stay; Cheddar gets a look at Curiosity Steam's 'Blockchain Revolution.'
Not long ago, banning cash at a large public event would have been seen as a crazy idea that would deter sales. But our cash-free future is getting closer with the use of contactless payments being implemented in sports venues, music festivals, concerts, and more. Jason Thomas, Global CEO of Tappit, joins Cheddar Reveals to break down how the pandemic accelerated the transition to cash-free live events, and why that trend is here to stay.
Yair Nechmad, Nayax CEO, joins Cheddar Reveals to discuss the future of cashless payments, and how cashless payments give retailers a competitive edge and allow merchants to scale business.
Bentley aims to become end-to-end carbon neutral by 2030. The luxury car brand has outlined steps to achieve this goal, including switching its entire model range to plug-in hybrid or battery electric vehicles by 2026 and become fully electric by 2030. Christophe Georges, president & CEO of Bentley Americas, joined Cheddar to discuss this new pledge and what consumers can expect from future models.
PepsiCo has announced a new goal to advance food security for 50 million people by 2030. To help achieve this goal, the company is partnering with local communities around the world to expand access to nutritious foods, increase productivity and incomes of small-scale farmers. Jon Banner, president of the PepsiCo Foundation, joined Cheddar to discuss this new pledge and his argument for why the world has to rethink the way it produces and distributes food.
ORIGYN Foundation, an NFT authentication start-up based in Switzerland, has secured $20 million in funding from investors like Paris Hilton, Bill Ackman, and Polychain Capital, among others. The non-profit, now valued at $300 million, uses AI technology to verify non-fungible tokens across art, collectibles, digital media and luxury goods. Daniel Haudenschild, CEO of ORIGYN Entreprise, discusses how the money will help put power back into the hands of artists, creators, and collectors.
With millions of Americans set to host Thanksgiving this year, shoppers can expect to pay more at grocery stores, with the price of a thanksgiving meal up 14% from last year. According to the USDA, the average price of an 8- to 16-pound frozen turkey is up 21% from a year ago. Jay Jandrain, CEO, Butterball, joined Cheddar’s Opening Bell to discuss how his company is being affected by supply chain challenges and rising prices.
