Daimler AG’s Mercedes-Benz rolled out its battery-powered EQA SUV as part of a plan to take on Tesla and Volkswagen. Mercedes-Benz’s first fully-electric SUV will be available in the coming months. EQA’s retail price will be set around 47,541 euros ($57,734) and have a range of approximately 486 kilometers (302 miles). Bloomberg notes unlike Tesla Inc.’s Model 3 or Volkswagen AG’s ID.3, Mercedes-Benz outfitted an existing combustion-engine vehicle with electric motors instead of developing one from scratch. “The German manufacturer modified the underpinnings of its GLA crossover to reduce upfront investment and save time compared to building an all-electric vehicle from scratch. It’s a trade-off that often comes at the expense of driving distance and production-cost efficiencies,” Bloomberg said. Bloomberg Intelligence analyst Michael Dean said Mercedes’s lower-priced electric cars would drag on profitability “until the company develops EV-specific underpinnings and battery prices drop further.” The price of a lithium-ion […]