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COMING UP:Share Opener Variant 3

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Transcript

00:00:01
>> German carmakers are racing into the electric car market in a full on assault on Tesla. Audi, Monday, launching its E-tron SUV in Tesla's backyard in the San Francisco bay area. It's a sleek, mid-sized SUV at 75 grand with some self-driving features like an advanced cruise control system that can keep the car in lane but drivers will have to keep their hands on the wheel.
00:00:25
Scott Keogh, President of Audi America says it's ready to take on Tesla.>> Our brand is strong. Our network is strong. Our product is phenomenal and we look forward to competing.>> Audi's launch comes as Tesla continues to struggle with ramping up. First, it was plagued with production issues and over the weekend Tesla CEO Elon Musk in a tweet said, the company is now in quote, delivery logistics hell.
00:00:50
That could give Audi and other established brands an opening, says Reuters global automotive editor, Joe White.>> They're starting conservatively, as you would expect from this brand. Officials said that they expect to start building about 200 vehicles a day. Now that's still well below what Tesla is trying to build in Fremont.
00:01:10
But Audi has the technical expertise, and the plant capacity and the capital to quickly ramp up if the these vehicles catch on as Audi clearly hopes they will. The scale of this launch party tells you that Audi is prepared to spend a lot of money.>> Audi's launch follows Mercedes unveiling of its first fully electric SUV earlier this month in Stockholm.
00:01:33
Volkswagen also has big plans and other premium European brands like BMW, Volvo Cars and Jaguar Land Rover are all entering the electric car market. That means the market is Tesla's to lose. But Musk isn't one to be upstaged. As Audi sets up a spectacular bay launch with a ferry ride to the event, Musk's other company, Space X, held an event in LA at about the same time to unveil plans for its first private passenger it will fly around the moon.