The Fed shifts on inflation – What does it mean?
The Fed unveiled a revision to its monetary policy, allowing for higher inflation to help support the labor market. We believe this action could keep interest rates low for years.
Mercedes-Benz put Tesla in its sights in September as it introduced its first model of its electric-vehicle line, the EQC crossover, reports Bloomberg.
Mercedes is the latest traditional luxury brand to enter the electric-car race, joining Porsche, Audi and Jaguar to challenge California-based Tesla.
“We are going all in. It’s starting right now,” said Daimler AG CEO Dieter Zetsche.
Daimler, which includes the Mercedes and Smart brands, is making a $12 billion investment in the technology and anticipates offering 10 fully electric cars by 2022. The automaker plans to utilize existing assembly plants for EQC production rather than establishing a dedicated electric facility, Zetsche added.
The EQC, which is roughly the size of the popular GLC line, features a range of 280 miles per charge and accelerates to 62 mph in 5.1 seconds. Production of the vehicle starts in the first half of 2019. (Source: Bloomberg
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