Mercedes-Benz says its upcoming entry-level CLA will set the bar for EV range, charging speed, and efficiency with advanced new tech. Ahead of its arrival, Mercedes is giving us a closer look at the sporty electric car.
“With the CLA, we are ushering in a new era at Mercedes-Benz,” CEO Ola Källenius said after driving the new EV at its Immendingen site for the first time.
The new model will be the first of a new family of vehicles, kicking off “a new chapter for the entry-level segment at Mercedes-Benz.” Mercedes said the new electric CLA “is designed to set new standards in range, efficiency and charging speed.”
Based on Mercedes’ next-gen MMA platform, the CLA integrates tech from its ultra-efficient Vision EQXX concept and brings it into mass production.
Mercedes said it developed a new electric drive unit in-house to ensure high performance and efficiency.
Källenius showed off the “secret” CLA EV during the event, revealing new features and details, including the new headlight design.
Mercedes previews new entry-level CLA EV
With the headlights being the first thing you see at night, Källenius said the design had to be perfect. One of the coolest design details is the Mercedes star logo integrated into the headlights. Although it looks pretty, Källenius said the design is also about safety and not blinding others on the street.
After hopping into the new EV, you can hear Källenius talk to the vehicle, and Mercedes’ virtual assistant responds. It’s “like you have a butler in your car,” Mercedes CEO explained.
Mercedes-Benz CEO Ola Källenius takes a first drive in the new CLA EV (Source: Mercedes-Benz)
The new entry-level model will be loaded with Mercedes’ latest software and connectivity tech. It will be the first to be equipped with the new MB.OS, or “the brain” behind its next-gen vehicles, as Mercedes calls it.
During the test drive, the new model shows off its sporty design and dynamic driving as it rips around the test track. “This is not even the AMG version,” Källenius said.
Mercedes-Benz entry-level CLA EV (Source: Mercedes-Benz)
With a two-speed transmission, “we can perfectly calibrate at every speed that you are driving how the electric motor works” to maximize efficiency, Källenius explained.
Mercedes leader said the CLA EV will have “incredibly fast” charging. With a new high-powered charging system, “charging almost becomes like fueling.”
Mercedes will officially unveil the new entry-level CLA EV next year, with deliveries expected in 2026. The new model will rival Tesla’s Model 3 and BMW i4, with expected prices around $50,000. It will also be available in a hybrid version.
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This week on Electrek’s Wheel-E podcast, we discuss the most popular news stories from the world of electric bikes and other nontraditional electric vehicles. This time, that includes a visit to electric moped maker NIU’s factory, Tern’s new GSD e-bike, Rad Power Bikes getting a new CEO, a Segway scooter recall, X Games kicking out electric motorcycles, and more.
The Wheel-E podcast returns every two weeks on Electrek’s YouTube channel, Facebook, Linkedin, and Twitter.
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Here are a few of the articles that we will discuss during the Wheel-E podcast today:
Here’s the live stream for today’s episode starting at 8:00 a.m. ET (or the video after 9:00 a.m. ET):
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Calling all Tesla owners. Enjoy up to $20,000 towards the lease of a new Polestar 3 when you combine the $5,000 Polestar Conquest Bonus and the $15,000 Polestar Clean Vehicle Incentive.
Polestar 3 is the SUV that drives like a sports car. Featuring range up to 350 miles, 517 hp, 0-60 mph in 4.5 seconds, and built-in technologies like Google Assistant and Apple CarPlay.
Polestar hasn’t been shy about what it views as an “opportunity” to snatch up car buyers who want to distance themselves from Musk. The company’s CEO, German auto industry stalwart Michael Lohscheller, told Bloomberg, “For Germany, somebody outside of Germany endorsing right-wing political parties is a big thing. You want to know what I think about it? I think it’s totally unacceptable. Totally unacceptable. You just don’t do that. This is pure arrogance, and these things will not work.”
He’s hoping enough people agree to move the needle on Polestar sales in the US – and the first step to that is for consumers to get behind the wheel of this “masterfully tuned and sneaky-fast SUV,” and see if it’s a fit for them.
Yesterday? I arrived around 1:30PM with a sack of spicy chicken sandwiches (if you want good customer service, be a good customer), and they’d already moved a half dozen units by the time I got there. They were looking at another dozen fresh leads from panicked city-dwellers looking to come in and make a deal over the weekend.
It’s about to get weird out there, kids. You could do far worse than trying to navigate said weirdness in a new Polestar.
A Shell logo is displayed on May 03, 2024 in Austin, Texas.
Brandon Bell | Getty Images News | Getty Images
U.S. activist investor Elliott Investment Management has taken a short position against British oil major Shell as part of a global hedging program.
The move, which was first reported by British newspaper The Times on Thursday, comes shortly after it emerged Paul Singer’s hedge fund had taken a near 5% stake in Shell’s struggling rival, BP.
Elliott is said to have amassed an £850 million ($1.1 billion) bet against Shell, The Times reported, citing filings with the Financial Conduct Authority.
The position is reportedly worth 0.5% of Shell’s stock and is thought to represent the biggest short position disclosed against the energy major in nearly a decade. A short position refers to a bet that a company’s stock will fall in value.
Elliott and Shell both declined to comment when contacted by CNBC on Friday.
Shares of Shell traded 0.5% lower at around 11 a.m. London time (7 a.m. E.T.) on Friday. The London-listed stock is up around 13.6% year-to-date.
Earlier this month, it was reported that Elliott had taken a short position of around 670 million euros ($722 million) in French oil giant TotalEnergies. A spokesperson for TotalEnergies did not immediately respond to a request for comment on Friday.
“When a hedge fund creates a long position — leveraged or not, because often they use leverage with these positions — they need for risk management purposes to create an opposite position, i.e. a short, into a similar company,” Maurizio Carulli, energy and materials analyst at Quilter Cheviot, said on Friday.
“The most likely reason for that is because it is an offsetting position with respect to the BP one, so both Total and Shell has been created as a short for risk management,” Carulli told CNBC via video call.
“Otherwise, if for any reason the market moves against them — for example, things like oil prices or whatever — they need to have some protection,” he added.
Elliott’s moves come as European energy majors double down on fossil fuels in an effort to boost near-term shareholder returns.
Shell recently announced plans to increase shareholder returns and cut spending as it reinforces its liquified natural gas (LNG) push. BP and Norway’s Equinor, meanwhile, have also outlined respective plans to slash renewable spending in favor of oil and gas.