Mercedes just unveiled its first all-electric crossover

Tesla has the lock on the all-electric SUV market with its Model X. But it won't for long. That's because Mercedes is gunning for the upstart electric-car-maker with its very own luxury EV crossover, dubbed the EQ, that it debuted in Paris Thursday morning.

Historically, the Paris show has been the place that the world's carmakers debut some of their higher-end vehicles. This year, however, the show has been highlighted by eco-friendly family haulers like the EQ and the all-electric Volkswagen I.D.

Clearly, the Germans love to give their EV concepts two-letter acronyms.