Mercedes-Benz has opened order books for the all-electric EQB in Germany, confirming at the same time that prices kick off at € 55,311 (US$ 62,000 at current exchange rates) for the base, all-wheel drive EQB 300 4Matic. As reported by Autonews Europe, that’s more than some of its current rivals in Germany, including the Audi Q4 e-tron that starts from € 41,900 (US$ 47,500) in 35 e-tron FWD form rising to € 50,900 (US$ 57,600) for the all-wheel drive 45 e-tron quattro, as well as the Volvo XC40 Recharge that’s priced from € 45,650 (US$ 51,700) for the FWD version and € 52,150 (US$ 59,000) for the twin-motor all-wheel drive variant.

The Ford Mustang Mach-E is also cheaper starting from € 47,500 (US$ 53,800) for the RWD model rising to € 54,750 (US$ 62,000) for the AWD version. However, the base EQB costs slightly less though than the € 56,990 (US$ 64,500) AWD Tesla Model Y Long Range.

Found at the base of the EQB range in Germany is the EQB 300 4Matic. This model features a pair of electric motors and all-wheel drive that combine to produce 225 hp and 390 Nm of torque. Those after a little more grunt can order the EQB 350 4Matic. It too has a pair of electric motors and all-wheel drive but has been tuned to deliver 288 hp and 520 Nm. Pricing for the EQB 350 4Matic starts at € 57,988 (US$ 65,000). Mercedes-Benz says the EQB 300 4Matic can hit 62 mph (100 km/h) in 8.0 seconds while the EQB 350 4Matic reaches the same mark in 6.2 seconds. Both top out at 160 km/h and have a 66.5 kWh battery pack.

Both variants are offered at launch with an Edition 1 package, priced at € 8,520 (US$ 9,554). It includes the Night Package with AMG body styling, 20-inch AMG light-alloy wheels painted in matte copper with a high-sheen finish, Neva Grey leather upholstery, and various blue accents. An affordable Electric Art trim (€ 940) is also available, adding rose gold accents to the interior and 18-inch two-tone light-alloy wheels.

Key options packages for the Mercedes-Benz EQB in Germany consist of the € 2,570 (US$ 2,882) Advanced Package, € 3,677 (US$ 4,123) Advanced Plus Package, and € 1,439 (US$ 1,613) Driving Assistance Package. The EQB can also be ordered as a seven-seater for an extra € 1,416 (US$ 1,587) and is eligible for a € 7,500 (US$ 8,410) tax break provided by the German government.

U.S. pricing hasn’t been announced but the EQB should cost about the same as a Tesla Model Y on this side of the pond.