European luxury carmakers BMW and Mercedes-Benz are introducing new electric SUVs to challenge Tesla’s dominance. BMW’s iX3 can travel up to 497 miles on a charge, while Mercedes’ GLC reaches 457 miles, surpassing Tesla’s Model Y. Tesla’s U.S. market share fell to 38% in August, sparking competition from legacy manufacturers and Chinese brands offering lower-priced models. German automakers are collaborating with U.S. tech firms to boost digital capabilities and challenge Tesla on technology and performance. The iX3 will cost around $80,000 in Germany, compared to Tesla’s Model Y starting at $60,000.

Read more at Yahoo Finance: BMW and Mercedes launch new EVs in challenge to Tesla