Mercedes-Benz will finally step into the realm of the Tesla Model S and Porsche Taycan with their very own electric luxury flagship sedan, dubbed the EQS.

Expected to launch next year, it will have a very impressive range of over 435 miles (700 km), measured in the WLTP cycle, according to Daimler CEO Ola Kallenius, who spoke about the model at the annual shareholders meeting hosted earlier this month.

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“Next year, we will enter a new era for Mercedes in terms of electrification: the EQS will set standards. More than 700 kilometers of driving range according to WLTP – that’s how far it can go on one battery charge. With the EQS, the way we think about cars is changing. It is the first fully electric luxury sedan from Mercedes-Benz based on an all-electric architecture. This opens up entirely new possibilities – from the position of the batteries to the car’s design.”

Mercedes-Benz Vision EQS Concept

Set to be produced in Factory 56 in Sindelfingen, Germany, with the batteries coming from the Suttgart-Unterturkheim plant, the EQS will be based on the carmaker’s Modular Electric Architecture (MEA). It promises S-Class levels of luxury, comfort and safety, as well as features such as all-wheel steering and electric all-wheel drive.

Details surrounding the powertrain have yet to be announced, but previous reports have indicated that it will have a dual-motor setup, with one of them powering the front and the other the rear wheels, hence the aforementioned electric all-wheel drive. The entry-level model will, in all likelihood, have in excess of 400 horsepower, while the range-topper, which might be co-developed with AMG, could arrive with almost 600 HP. Keep in mind that the 435-mile range is most likely reserved for the top-spec (non-AMG) model, as the lesser variants are expected to do just over 310 miles (500 km) on a single charge.