NEW YORK (TheStreet) -- Daimler's (DDAIF) Mercedes Benz is challenging TeslaMotors (TSLA) - Get Report as the company plans to sell an electric truck in about five years, Bloomberg TV's Mark Barton said on "Bloomberg Markets" Wednesday.
Daimler says the heavy duty truck will be able to travel a distance of 124 miles per battery charge and carry up to 26 tons, Barton noted.
The Urban eTruck is to be used for short-radius distribution purposes such as supermarket deliveries, the company said.
Tesla CEO Elon Musk announced an electric truck would be part of a line expansion in the master planned he released last week, Barton added.
Shares of Tesla are down 0.18% to $229.09 this afternoon.
Separately, TheStreet Ratings team set this stock as a "sell" with a ratings score of D+. The company's weaknesses can be seen in multiple areas, such as its deteriorating net income, generally high debt management risk, disappointing return on equity, weak operating cash flow and generally disappointing historical performance in the stock itself.
TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: TSLA