Daimler, AG (Mercedes Benz) Plans 6+ EV Models
$DDAIF, $VLKAY, $TSLA
German carmaker Daimler (OTCMKT:DDAIF) plans to roll out at least 6, and possibly as many as 9, EV (electric car) models as part of its drive to compete with Tesla (NASDAQ:TSLA) and Volkswagen’s (OTCMKT:VLKAY)) Audi, a person familiar with Daimler’s plans told Reuters Saturday.
The iconic maker of Mercedes-Benz cars remains on track to unveil a new electric car at the Paris motor show next month. In July, the German carmaker said it had accelerated development of premium electric cars that will go head to head with Tesla Motors.
German firms are investing heavily in electric cars, a segment once neglected by the industry as customers shunned their limited operating range and high cost.
But a growing political backlash against diesel fumes and recent advances in battery technology to increase the reach of an electric car by up to 50% have spurred major investments by Volkswagen, Daimler and suppliers such as Bosch, and Continental (DE:CONG).
Mercedes plans make an SUV model with a plug-in hybrid motor powered by fuel cells, which would have a range of up to 50 km (30 miles) on battery power and would then run on electricity generated by hydrogen.
Expect the hybrid motor cars from Mercedes Benz to greatly undermine the fragile market that Elon Musk has tried to develop for the Tesla EV’s and be a major headwind for the cash starved company.
Friday, Tesla’s (TSLA) shares broke Key support at 199.11, next support is at 190.05, then NIL. My 3 Key technical indicators are all Very Bearish. Target at 75/share
|OTCMKT:DDAIF||70.16||2 September 2016||0.65||70.112||70.35||69.91||31,000|
|HeffX-LTN Analysis for DDAIF:||Overall||Short||Intermediate||Long|
|Bullish (0.33)||Bullish (0.31)||Bullish (0.43)||Bullish (0.26)|
|NASDAQ:TSLA||197.78||2 September 2016||-2.99||202.33||203.2||196.2||5,971,900|
|HeffX-LTN Analysis for TSLA:||Overall||Short||Intermediate||Long|
|Neutral (-0.23)||Bearish (-0.41)||Bearish (-0.31)||Neutral (0.03)|
Have a terrific Labor Day Weekend.