Tesla has long been at the top of the list of top choices for electric vehicle buyers. Competition among U.S. EV brands is intensifying, however, as several automakers aim to grab a lion’s share of the global EV market. Volkswagen aims to seize the top spot in the global electric car market with a multi-product electric vehicle offensive, and Mercedes-Benz reportedly plans to take the Formula 1 route to challenge Tesla.
The German luxury car brand has reportedly decided to use the help of its Formula 1 team to develop more efficient mass-market electric vehicles that will challenge Tesla’s EVs in the coming days. Mercedes-Benz plans to speed up the development time and improve the efficiency of its electric vehicles by bringing its Formula 1 racing team into the engineering process, Reuters reported.
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The luxury automaker believes it can produce efficient mass-market electric vehicles and cut development time by at least a quarter. Mercedes-Benz Chief Technology Officer Markus Schaefer said the automaker has an advantage over Tesla because of its in-house Formula 1 team and its engineers. “We have an advantage in Formula 1 that nobody else has. Tesla doesn’t. Other teams don’t,” he added further.
Mercedes-Benz has already brought several compelling electric vehicles to market, with many more in the pipeline. However, the German company does not yet have an efficient option like the Tesla Model 3. In fact, the Tesla Model 3 and its crossover, the Model Y, have moved on from the luxury cr brand of fossil fuel-powered cars and SUVs. Mercedes-Benz believes that could change if it can bring a competing model to market sooner.
First published date: May 3, 2023 at 11:40 AM CST