Tesla Inc. (NASDAQ:TSLA) will now have some competition in the electric car market as Audi, owned by Volkswagen Group (ETR: VOW3), and Jaguar, owned by the Ford Motor Company (NYSE:F), plan to release their versions of fully electric SUVs.
Both the Jaguar I-Pace and the Audi e-tron will be challenging the Tesla Model X, which has recently been one of the only luxury electric SUVs on the market.
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In the United States, the I-Pace will be sold at $69,500 US, or approximately $85,000 CAD, compared to the $102,300 USD, or $131,600 CAD, Model X.
According to a recent article in the Globe and Mail, the Jaguar I-Pace has been reviewed as feeling more high tech than a Tesla.
The smaller price tag of Jaguar’s electric vehicle only helps to make it seem more promising.
While the Audi e-tron won’t be available in Canada until early next year, pricing for the electric SUV has been set at €80,000, or approximately $128,000 CAD, in Germany.
The e-tron will be the start of VW’s move toward electric vehicles.
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Audi also has plans to release more electric vehicles in the future, including the recently debuted Audi e-tron FE05, a fully electric race car, and a four-door Sportback sedan.
The company’s board of management chairman, Rupert Stadler, has said that Audi will have all three of the e-tron vehicles out by 2020.
Other automotive companies releasing electric vehicles next year include Mercedes-Benz, owned by Daimler AG (ETR: DAI) who will be releasing their first all-electric vehicle in 2019, and BMW (ETR: BMW), who were one of the first luxury car companies to produce an electric car, with the 2014 i3.
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