Daimler to expect intense competition in electric car market

The chief executive of Germany’s Daimler believes the automaker will face stiff opposition from tech giants like Google, Apple, and Alibaba if they decide to launch their own electric vehicles.

While the tech giants are yet to start selling their own cars, reports suggest they could soon launch products that combine hardware and software as the electric vehicle race heats up.

On Thursday, “There will be intense competition,” Daimler CEO Ola Kallenius said when asked if he was concerned about digital companies entering the electric vehicles market.

“When an industry goes through transformation, I think it’s natural that new players look at the industry,” he said.

Kallenius said Daimler will “look at what the brand stands for and take that into the next technological era,” adding that the company will be able to build on its position if it does that well.

His comments come as Mercedes Benz, which is owned by Daimler, launches an electric version of its flagship S-Class luxury sedan.

“It’s kind of the start of a new era,” Kallenius said, before adding that there’s a lot of “curiosity” surrounding the new vehicle.