Mercedes-Benz to challenge Tesla via Formula One route. Details here

Tesla has remained on top of the electric car buyers' choice list for a long time. However, with several automakers aiming to grab a large chunk of the global EV market, the competition is rising for the US electric car brand. While Volkswagen is aiming to grab the top spot of the global electric car market by launching an EV offensive that will see multiple product launches, Mercedes-Benz is reportedly planning to take the Formula One route to challenge Tesla.

The German luxury car brand has reportedly decided to use its Formula One team's help to develop more efficient and mass-market electric cars that would challenge the Tesla EVs in the coming days. Reuters has reported that Mercedes-Benz plans to speed up electric vehicle development timing and increase the efficiency of its electric cars by roping in its Formula One racing team into the engineering process.

The luxury carmaker believes that it can produce highly efficient mass-market EVs and reduce development times by at least a quarter. Mercedes-Benz's Chief Technology Officer Markus Schaefer said the automaker has an edge over Tesla thanks to the in-house Formula One team and its engineers. “We have an edge here with Formula One that others don’t have. Tesla doesn’t have it. Other teams don’t have it," he further added.

Mercedes-Benz has already launched several compelling electric cars to the market, and many more are in the pipeline. However, the German company doesn't yet have a highly efficient option like the Tesla Model 3. In fact, Tesla Model 3 and its crossover cousin, the Model Y, have taken sales away from luxury cr brands' fossil fuel-powered cars and SUVs. Mercedes-Benz believes that the scenario could change if it can bring competing models to market sooner rather than later.