Mercedes-Benz EQE starts pre-sales in China: Is it overpriced?
German luxury carmaker Mercedes-Benz's EQE is officially available for pre-sale in China on Monday to join the competition in the high-end electric sedan market.
Mercedes is currently offering three versions of the model, with the version with a CLTC range of 752 kilometers priced at 530,000 yuan ($78,500), according to information on its official Weibo account today.
The other two versions of the model, both with a range of 717 km, are priced at RMB 550,000 and RMB 590,000 respectively.
There are few options in China's premium electric sedan market, with the most popular ones including the NIO ET7, and the L7 from IM Motors, a premium electric vehicle brand jointly created by SAIC and Alibaba, which started delivery in China on June 18.
That pricing of EQE is higher than NIO's flagship sedan, the ET7, which is offered in two versions starting at RMB 458,000 and RMB 536,000 before subsidies, respectively. Consumers who buy NIO's vehicles with the battery swap service BaaS will see an RMB 70,000 reduction in the purchase threshold.
And the Mercedes-Benz EQE is equipped with a single motor with a peak power of 215 kW. For comparison, both versions of the NIO ET7 have dual motors with 180 kW peak power at the front and 300 kW at the rear.
Last month , Li Auto CEO made a comment on his Weibo( Chinese twitter) that German luxury automakers' prices in China will drop sharply within two years. By the end of 2024 at the latest, the main models of BBA's (abbreviation for Mercedes-Benz, BMW and Audi) locally produced medium-to-large SUVs will be selling for less than RMB 500,000, he said.
The rapid rise of local Chinese automakers in the electric vehicle era is posing a threat to German luxury automakers' pricing system here. In the view of the man at the helm of Li Auto, within two years the German automakers' SUV models will be significantly less expensive than they are today.
Li did not mention specific models, but the three German luxury automakers' medium-to-large SUVs offered in China are the Mercedes-Benz GLE, BMW X5 and Audi Q7, with starting prices of 699,800 yuan ($104,480), 605,000 yuan and 632,800 yuan, respectively.
The Li Auto CEO's comments came nine days after the company unveiled its new SUV, the Li L9, a rare challenge from a Chinese carmaker to German luxury carmakers.
However, his views now seem to be shared by many Chinese. The company's just-launched SUV Li L9 has the same dimensions as the large SUVs from Mercedes-Benz and BMW - the GLS and X7 - but costs half as much.
The Li L9 is priced at the same flat rate as the Li ONE, at RMB 459,800.
Source: cnevpost, Mercedes-Benz, Li Auto, IM
See also
China state paper explains why Audi's NEVs can't outsell Nio
Click and hold, then select [Extract QR code] to add AutoUpdate admin with your name card if you'd like to join our WeChat Group( Group admin: autochinarebecca)