Mercedes-Benz has unveiled a new electric-sedan concept vehicle, called the CLA Class, at a German motor show. The concept boasts a superior range of over 466 miles, based on global industry standards. In comparison, even Tesla's long-range Model 3 sedan falls short with a range of 391 miles. The CLA Class aims to cater to car buyers who desire both the unmistakable Mercedes-Benz feel and a sustainable option that stands out from the crowd. Labeling it the "hypermiler" of the electric age, Mercedes-Benz Chairman Ola Kallenius expressed his excitement about the new model family.

Although the CLA Class is currently only a concept vehicle, production is scheduled to begin next year. This innovative car will mark the debut of a new all-electric segment of entry-level vehicles at Mercedes-Benz, including two new SUVs. While Mercedes-Benz's sales of battery electric vehicles last year reached 117,800 units, accounting for nearly 6% of total vehicle sales to retail customers, it still trails behind Tesla's impressive 1.3 million deliveries in 2022. However, Mercedes-Benz aims to capture 50% of the electric vehicle market by 2025 and be fully electric by 2030.

Mercedes-Benz's stock saw a 1.2% increase in overseas trading on Monday, while Tesla shares were not traded on account of the Labor Day holiday.

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