Mercedes-Benz Plans An Electric Car To Rival Tesla: Report

Daimler AG's Mercedes-Benz division is set to release an electric car within the next few years, according to Auto News magazine, which cited Thomas Weber, a Daimler board member in charge of Mercedes' car development. The car, possibly available around 2018, would go 250 miles to 310 miles between charges and be a competitor to Tesla Motors Inc. electric cars. On Monday, Volkswagen AG's Porsche division unveiled a prototype electric car, Porsche's first all-electric car for everyday use. Porsche will decide by the end of the year whether it will build the car. Meanwhile, Tesla has said the first few Model X SUVs will roll off its assembly line on Sept. 29.