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Mercedes-Benz may soon launch a new marque for its upcoming range of pure electric vehicles.

Anonymous sources have told Handelsblatt that Daimler, parent company of Mercedes-Benz and Smart, is planning on launching a new brand dedicated to electric vehicles.

A final decision on whether to go ahead with the plan will be made at a board meeting scheduled for July 20. If approved, this new marque will be positioned as a competitor to Tesla.

Should it be given the go-ahead, the new brand will be launched at this year’s Paris motor show, where the company will also debut an electric crossover concept vehicle built on the bones of the GLC SUV.

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Above: Mercedes-Benz GLC Coupe.

The German business newspaper believes that the SUV will head into showrooms in 2017, and will be the first of four electric vehicles that Mercedes-Benz is planning to release between now and 2020.

While rival BMW builds its i3 hatch and i8 coupe at a dedicated factory in Leipzig, Germany, Daimler will utilise existing factories for its new EV range.

This, the company hopes, will not only keep costs in check, but also allow it to more easily scale production to demand.

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