Mercedes and BMW car manufacturers want to compete with Tesla


At the beginning of the IAA motor show in Munich on Monday, September 4, 2023, the Mercedes car manufacturer presented its new Mercedes-Benz Concept CLA Class car. In this regard, the car manufacturer also unveiled the new BMW Vision Neue Klasse, the top traditional BMW brand. These cars are built on the German automaker’s all-new platforms, which will underpin both of their electric vehicle (EV) offerings for years to come. According to economic correspondents linked to auto market experts, this is the most aggressive push for electric vehicles from Mercedes and BMW as they try to catch up with Tesla.

Currently, the shares of Mercedes Benz Group AG were traded on the German stock market during the trading day of Tuesday, September 5, 2023, approximately at 13:51 CET European time, at a value of EUR 66.57 per share, with a daily increase of +0 to date. 11% of its price. According to technical analysis data, these shares have seen their value grow by +8.4% of their price since the beginning of this year 2023. Mercedes-Benz Group AG, formerly Daimler AG (Daimler), is a German automotive engineering company. The company develops, manufactures and distributes cars and vans in Germany and manages the Daimler Group. The segments include Mercedes-Benz Cars, Mercedes-Benz Vans and Daimler Financial Services. The Mercedes-Benz Cars segment includes Mercedes-Benz vehicles, including the Mercedes-AMG and Mercedes-Maybach brands, and small cars under the smart brand as well as the Mercedes me brand. Mercedes-Benz Vans sells vans under the Mercedes-Benz and Freightliner brands. Daimler Mobility AG offers e.g. financing, leasing, car subscription and rental, fleet management, digital services and also mobility services.

As part of this year’s 2023 motor show in Munich, the domestic company Bayerische Motoren Werke AG, which manufactures BMW cars of the same name, made itself known in relation to electric vehicles. Its shares were traded on the German stock market through the Frankfurt Stock Exchange on Tuesday, September 5, 2023. at approximately 12:25 CET at a value of EUR 95.50 per share with a +1.15% increase in its price so far. Bayerische Motoren Werke AG is a German manufacturer of automobiles and motorcycles. The company divides its activities into four segments: Automotive Industry, Motorcycles, Financial Services and Other Entities. The Automotive segment develops, manufactures, assembles and sells cars and SUVs under the BMW, MINI and Rolls-Royce brands, as well as spare parts and accessories. The Motorcycles segment develops, manufactures, assembles and sells motorcycles, spare parts and accessories. The financial services segment focuses on car leasing, multi-brand financing, fleet deals, retail client and dealer financing, client deposits and insurance activities. The Other Entities segment includes other operating companies such as BMW (UK) Investments Ltd, Bavaria Lloyd Reisebuero GmbH.

The Mercedes car manufacturer placed great emphasis on the interior and user experience for this new version of the car. The company said it is developing its own operating system for the car, called MB.OS, which will help power various functions from the giant screen to the dashboard to the in-car voice assistant. The operating system will also allow the integration of third-party applications, such as your favorite music or video streaming applications, into the vehicle. The BMW Vision Neue Klasse is BMW’s answer to Tesla. This car model is also built on a new architecture that will be the basis of future BMW electric cars. The first electric vehicles based on Neue Klasse architecture, or the new class, are to begin production in 2025. Traditional German automakers were perceived as car manufacturers standing only behind Tesla in the so-called software front. However, current developments have shown that this is a clear attempt by both BMW and Mercedes to catch up with Tesla.